diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4535835..8f85aea 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,10 @@
 
 ## 0.3
 
+### 0.3.1
+
+- Fix first version error.
+
 ### 0.3.0
 
 - Refactoring migrate logic, and this version is not compatible with previous version.
diff --git a/aerich/__init__.py b/aerich/__init__.py
index 493f741..260c070 100644
--- a/aerich/__init__.py
+++ b/aerich/__init__.py
@@ -1 +1 @@
-__version__ = "0.3.0"
+__version__ = "0.3.1"
diff --git a/aerich/migrate.py b/aerich/migrate.py
index a35cd26..3aeca38 100644
--- a/aerich/migrate.py
+++ b/aerich/migrate.py
@@ -67,9 +67,10 @@ class Migrate:
     async def init_with_old_models(cls, config: dict, app: str, location: str):
         await Tortoise.init(config=config)
         last_version = await cls.get_last_version()
-        content = last_version.content
-        with open(cls.get_old_model_file(app, location), "w") as f:
-            f.write(content)
+        if last_version:
+            content = last_version.content
+            with open(cls.get_old_model_file(app, location), "w") as f:
+                f.write(content)
 
         migrate_config = cls._get_migrate_config(config, app, location)
         cls.app = app
diff --git a/pyproject.toml b/pyproject.toml
index 6e19077..4695c61 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "aerich"
-version = "0.3.0"
+version = "0.3.1"
 description = "A database migrations tool for Tortoise ORM."
 authors = ["long2ice <long2ice@gmail.com>"]
 license = "Apache-2.0"