Important Notes, Directory, and Definitions
The Board of Directors and senior management of the company guarantee that the content of the annual report is true, accurate, and complete, with no false records, misleading statements, or significant omissions, and bear individual and joint legal responsibilities. The responsible person Zhou Chengjian, the head of accounting Lü Huiling, and the head of the accounting institution Yang Rui declare: they ensure the truthfulness, accuracy, and completeness of the financial report in this annual report. All directors have attended the board meeting to review this report. The forward-looking statements regarding future plans and development strategies in this annual report do not constitute substantial commitments to investors; investors should be aware of investment risks. Investors and related parties should maintain sufficient awareness of risks and understand the differences between plans, forecasts, and commitments. The company must comply with the disclosure requirements related to the textile and apparel industry as stipulated in the "Self-Regulatory Guidelines for Listed Companies No. 3 - Industry Information Disclosure" of the Shenzhen Stock Exchange. For details, please refer to Section 3 "Management Discussion and Analysis" in this report, specifically "11. Outlook for the Company's Future Development" under "(2) Risks and Countermeasures the Company May Face." The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves. As of the end of the reporting period, the parent company has undistributed losses. The undistributed profits in the parent company's balance sheet amount to -CNY 980,101,300, and the consolidated balance sheet shows undistributed profits of -CNY 3,459,415,000, hence the company will not distribute cash dividends, issue bonus shares, or increase capital from reserves in 2025.
Directory
- Important Notes, Directory, and Definitions ................................................................................................................. 2
- Company Profile and Key Financial Indicators .............................................................................................................. 7
- Management Discussion and Analysis .......................................................................................................................... 11
- Corporate Governance, Environment, and Society ......................................................................................................... 33
- Important Matters .......................................................................................................................................................... 47
- Changes in Shares and Shareholder Information ........................................................................................................... 59
- Bond-Related Information .............................................................................................................................................. 65
- Financial Report .............................................................................................................................................................. 66
Documents for Inspection
- Financial statements signed and stamped by the responsible person, head of accounting, and head of the accounting institution.
- Original audit report stamped by the accounting firm and signed by the certified public accountant.
- Originals of all company documents publicly disclosed during the reporting period and announcements.