Financial Performance - The company expects a net loss attributable to shareholders of between -11 million to -13 million yuan for the fiscal year 2022, compared to a profit of 22.1 million yuan in the same period last year, representing a change of -149.78% to -158.83%[4] - Estimated operating revenue for the period is 196.11 million yuan, down 29.62% from 278.64 million yuan in the previous year[4] - The decline in net profit is primarily due to multiple factors including economic downturn, shrinking demand, and recurring pandemic impacts, leading to a significant reduction in orders in the domestic commercial vehicle market[6] - Fixed costs remained unchanged while the unit cost of products increased, resulting in a decrease in gross profit[6] - The financial data presented is preliminary and subject to audit, with final figures to be disclosed in the company's annual report[7]

Financial Performance - The company's operating revenue for 2022 is expected to be CNY 196.11 million, a decrease of 29.62% compared to the previous year[5] - The net profit attributable to shareholders is projected to be CNY -11.72 million, representing a decline of 153.05% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be CNY -18.97 million[5] - The basic earnings per share is expected to be CNY -0.09, a drop of 145.70% from the previous year[4] - The weighted average return on net assets (after deducting non-recurring items) is projected to be -6.32%[4] Assets and Equity - The total assets at the end of the reporting period are estimated to be CNY 388.41 million, down 10.79% from the beginning of the period[5] - The equity attributable to shareholders is projected to be CNY 280.76 million, a decrease of 12.12% compared to the previous year[5] Profitability and Costs - The company's gross profit margin has decreased by 19.78% due to increased unit costs from fixed cost amortization amid reduced orders[6] Market Conditions - The decline in performance is attributed to multiple factors including economic downturn, shrinking market demand, and recurring pandemic impacts[6] Cautionary Note - The company warns that the financial data presented is preliminary and subject to audit, urging investors to be cautious[7]

Revenue Performance - The company's operating revenue for the current period is ¥88,278,362.16, a decrease of 51.10% compared to the same period last year[26]. - The company's revenue performance fell short of budget expectations, with a notable decline compared to the same period last year due to ongoing challenges in the medium and heavy commercial vehicle market[36]. - The company's revenue for the reporting period was ¥88,278,362.16, a decrease of 51.10% compared to ¥180,540,231.94 in the same period last year, primarily due to a decline in orders from major clients in the heavy-duty truck market[47]. - The main business revenue was ¥86,760,039.05, down 50.28% year-on-year, attributed to the ongoing downturn in the medium and heavy commercial vehicle market[51]. - The aluminum ingot sales revenue was ¥19,140,566.65, with a gross margin of -12.98%, reflecting market volatility affecting sales prices and procurement costs[48]. Profitability and Financial Performance - The net profit attributable to shareholders of the listed company is ¥796,941.97, reflecting a significant decline of 96.96% year-on-year[26]. - The gross profit margin has dropped to 0.92%, down from 21.94% in the previous year[26]. - The operating profit for the period was ¥775,325.17, a dramatic decline of 97.41% from ¥29,956,604.94, primarily due to decreased revenue and increased operating costs[49]. - The company reported a net profit of ¥796,941.97, a significant decrease of 96.96% from ¥26,237,067.98 in the previous year, driven by lower revenue and increased costs[49]. - The total comprehensive income for the period was 796,941.97, compared to 26,237,067.98 in the previous year, showing a significant drop[135]. Cash Flow and Liquidity - The company generated a net cash flow from operating activities of ¥25,858,214.21, an increase of 87.26% compared to the previous year[27]. - The net cash flow from operating activities for the reporting period was ¥25,858,214.21, an increase of 87.26% compared to the previous period[58]. - Cash received from sales of goods and services was ¥81,876,994.40, a decrease of ¥1,272,942.45 due to reduced customer payments[59]. - The net cash flow from investment activities was -¥7,358,935.46, an increase of 20.69% compared to the previous period, primarily due to increased cash payments for purchasing production equipment[60]. - The net cash flow from financing activities was -¥22,987,391.11, an increase of 63.42% compared to the previous period, influenced by a net increase of ¥5 million in bank loans[60]. Assets and Liabilities - The total assets decreased by 9.83% to ¥392,574,019.73, while total liabilities decreased by 14.33% to ¥99,294,256.24[27]. - The company has a debt-to-asset ratio of 25.10%, indicating a stable financial position[27]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥96,926,912.37, representing 24.69% of total assets, a slight decrease of 0.24% from the previous year[40]. - Accounts receivable decreased by 55.54% to ¥8,280,000.00, primarily due to reduced revenue and customer repayments[42]. - The company's inventory increased slightly by 0.27% to ¥38,883,441.80, indicating stable stock levels despite market challenges[40]. Research and Development - The company holds a total of 29 patents, with 4 utility model patents obtained in the first half of 2022[3]. - The company has established a comprehensive technical center with 8 specialized institutions to enhance its core R&D capabilities[33]. - Research and development expenses increased to ¥3,563,036.84, accounting for 4.11% of revenue, up from 3.09% in the previous year, reflecting the company's focus on developing new customers and products during its transition period[48]. - The company is recognized as a high-tech enterprise and a "little giant" enterprise in Hubei Province, focusing on lightweight research for automotive components[22]. - The company has made progress in new product development, achieving milestones with Yuchai New Energy and Pangu Power, and actively participating in new product development with major commercial vehicle manufacturers[36]. Market and Customer Dynamics - The company acquired three new customers in the new energy vehicle sector[3]. - The company faces risks from concentrated major customers, primarily Weichai Holding Group and its subsidiaries[10]. - The company is actively developing new customers to reduce reliance on major clients, addressing risks associated with customer concentration[70]. - The heavy truck market saw a significant decline, with total sales of 378,000 units, a year-on-year decrease of 64%[37]. - The company anticipates potential recovery in the heavy truck market in the second half of 2022, supported by easing pandemic restrictions and ongoing efforts in the new energy vehicle sector[38]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, particularly aluminum alloy and steel[10]. - The company has a low actual controller shareholding ratio of 25.73%, posing a risk of insufficient control[10]. - The company plans to start its first phase of relocation in the second half of 2022, which may impact production and operations[10]. - The COVID-19 pandemic has negatively impacted the production and domestic sales of automotive parts due to logistics disruptions[72]. - The company is exposed to risks from fluctuations in raw material prices, particularly aluminum and steel, which could impact profit margins[69]. Corporate Governance and Compliance - The company has committed to fulfilling its obligations regarding share confirmation and potential disputes arising from share ownership[85]. - The company is currently executing commitments related to the clarity of its equity structure, ensuring no major lawsuits or disputes exist[85]. - The company has ongoing commitments to reduce related party transactions and ensure compliance with various financial regulations[86]. - The company has made commitments regarding compliance with social insurance and housing fund regulations[86]. - The company has ongoing commitments to maintain transparency and integrity in its financial dealings[86]. Shareholder Information - The company has a total of 134,990,443 ordinary shares, with 41.06% held by controlling shareholders and actual controllers[96]. - The largest shareholder, Chen Shouquan, holds 19,760,438 shares, representing 14.64% of total shares[99]. - The company has 7,495 ordinary shareholders as of the report date[96]. - The company has committed to a 24-month lock-up period for shares held by major shareholders following the stock issuance[71]. - The company raised a total of RMB 142,774,800 through the public issuance of 33,994,000 shares at a price of RMB 4.20 per share[109].

Company Recognition and Innovation - In 2021, Hubei HuaYang Automobile Gearshift System Co., Ltd. was awarded the "Little Giant" enterprise honor in Hubei Province, recognizing its specialization and innovation[5] - The company obtained a total of 7 patents in 2021, including new products for new energy vehicles and front subframes[5] - The company holds 25 patents, including 1 invention patent, and has 6 software copyrights[25] - The company has established four research institutes, demonstrating a strong commitment to R&D in the medium and heavy commercial vehicle transmission sector[48] Financial Performance - Total operating revenue for 2021 was ¥278,643,768.16, a decrease of 14.33% compared to ¥325,269,367.78 in 2020[29] - Net profit attributable to shareholders was ¥22,097,566.29, down 58.22% from ¥52,889,499.06 in the previous year[29] - The company’s gross profit margin decreased to 17.89% from 25.93% in the previous year[29] - The weighted average return on equity (ROE) based on net profit attributable to shareholders was 8.64%, down from 30.56% in 2020[29] - The net cash flow from operating activities was negative at -¥4,768,981.40, a decline of 77.54% compared to -¥2,686,202.73 in 2020[32] - The company reported a significant increase in cash flow from financing activities, amounting to 130,269,922.25 CNY, up 2,877.66% year-on-year[77] Market Challenges - The heavy-duty commercial vehicle market experienced a year-on-year decline of 13.8% in 2021, which may impact the company's performance if the trend continues[12] - The heavy-duty truck market saw a retail sales decline of 56.8% year-on-year in November 2021, reflecting a challenging market environment for the company[55] - The company faces risks due to a concentrated customer base, primarily relying on Weichai Holding Group and Dongfeng Commercial Vehicle Co., Ltd.[11] - The company faces uncertainties related to customer order fluctuations, which could impact main business revenue[98] Raw Material and Cost Management - Fluctuations in the prices of key raw materials, such as aluminum alloy and steel, significantly affect the company's cost structure and profitability[11] - The price of aluminum alloy materials, essential for production, increased by 52.80% in 2021, contributing to the decline in both revenue and profit[56] - The company plans to mitigate risks from raw material price fluctuations by improving internal cost management and negotiating price increases with customers[100] Corporate Governance and Shareholding Structure - The actual controller's shareholding ratio is relatively low at 25.73%, which poses a risk to the company's control dynamics[12] - The largest shareholder, Chen Shouquan, holds 14.6384% of the shares, while the second-largest shareholder, Hubei Huayang Investment Group, holds 8.2658%[133] - The combined shareholding of Chen Shouquan and his sister Chen Shoufen, who are acting in concert, is 17.4606%[135] - The company has not experienced any changes in its controlling shareholder during the reporting period[134] Employee Management and Development - The total number of employees decreased from 422 at the beginning of the period to 391 at the end, a reduction of 31 employees, primarily due to decreased customer demand and the implementation of multi-machine operations[159] - The company emphasizes employee training and development, with annual training plans aligned with operational goals[161] - The company incurs approximately 350,000 yuan annually in subsidies for retired employees[161] Risk Management and Compliance - The company has implemented measures to manage risks associated with the COVID-19 pandemic, which has affected logistics and production[12] - The company has established a robust internal control system that is continuously optimized to ensure compliance with laws and regulations, with no significant deficiencies reported in the current year[192] - The company has a dedicated investor relations management system to enhance communication with investors and protect their rights[184] Future Plans and Projections - The company plans to initiate its first phase of relocation from July to September 2022, which may impact production and operations[12] - The company aims to achieve a production capacity of 50,000 units annually for the lightweight aluminum alloy gearbox shell processing line[86] - The company projects that the sales volume of new energy passenger vehicles will reach approximately 4.8 million units in 2022, a year-on-year increase of 66%[93] - The operational goal for 2022 includes ensuring revenue targets are met while improving production efficiency and reducing energy consumption[96] Share Issuance and Capital Management - The company issued 33,994,000 shares at a price of 4.20 CNY per share, raising a total of 142,774,800 CNY in funds[141] - The net amount raised after deducting issuance costs was 129,891,645.88 CNY, with 57,133,386.28 CNY utilized for disclosed projects by the end of the reporting period[144] - The company distributed a cash dividend of 2.00 CNY per 10 shares on November 2, 2021[146] Legal and Regulatory Compliance - The company has not reported any violations of commitments by shareholders, directors, or senior management during the reporting period[120] - All shareholder meetings were conducted in compliance with legal and regulatory requirements, ensuring equal rights and protections for all shareholders[172] - The company’s governance practices align with the requirements set by the China Securities Regulatory Commission and the Beijing Stock Exchange[171]

Financial Performance - Operating revenue for Q1 2022 was CNY 34,722,554.21, down 65.49% from CNY 100,628,523.71 in Q1 2021, primarily due to fewer customer orders[14][16] - Net profit attributable to shareholders for Q1 2022 was CNY 2,932,649.89, a decline of 78.34% compared to CNY 13,540,508.38 in the same period last year[14][16] - The gross profit margin decreased significantly due to rising raw material prices and a drop in sales volume, with operating costs for Q1 2022 at CNY 33,946,900, down 57.75% from CNY 80,341,500 in Q1 2021[16] - The total operating revenue for Q1 2022 was CNY 34,722,554.21, a decrease of 65.5% compared to CNY 100,628,523.71 in Q1 2021[36] - The total operating costs for Q1 2022 were CNY 39,180,056.00, down from CNY 87,667,598.79 in Q1 2021, indicating a reduction of 55.3%[36] - The net profit for the first quarter of 2022 was CNY 2,932,649.89, a decrease of 78.4% compared to CNY 13,540,508.38 in the same period of 2021[38] - Operating profit for the first quarter of 2022 was CNY 2,960,022.87, down 80.7% from CNY 15,393,913.63 in the first quarter of 2021[38] - The total profit before tax for Q1 2022 was CNY 2,900,387.58, a decrease of 81.0% from CNY 15,295,719.50 in Q1 2021[38] - The company reported a total comprehensive income of CNY 2,932,649.89 for Q1 2022, reflecting a decrease of 78.4% from CNY 13,540,508.38 in Q1 2021[38] - Basic and diluted earnings per share for Q1 2022 were both CNY 0.02, down from CNY 0.13 in Q1 2021[38] Cash Flow and Assets - The company's cash flow from operating activities for Q1 2022 was CNY 7,432,016.78, an increase of 448.34% compared to a negative cash flow of CNY 2,133,522.74 in Q1 2021[14][16] - The cash flow from operating activities for Q1 2022 was CNY 7,432,016.78, a significant improvement from a negative cash flow of CNY -2,133,522.74 in Q1 2021[41] - The total assets as of March 31, 2022, were CNY 406,986,378.20, a decrease of 6.52% compared to the end of the previous year[14] - The total assets as of March 31, 2022, amounted to CNY 406,986,378.20, a decrease from CNY 435,384,983.08 as of December 31, 2021, reflecting a decline of 6.5%[34] - The cash and cash equivalents increased to CNY 99,261,825.40 as of March 31, 2022, compared to CNY 97,157,513.62 at the end of 2021, showing a growth of 2.2%[32] - The total liabilities decreased to CNY 84,572,818.19 as of March 31, 2022, from CNY 115,904,072.96 at the end of 2021, representing a reduction of 26.9%[34] - The short-term borrowings decreased to CNY 12,011,760.90 as of March 31, 2022, from CNY 17,011,344.24 at the end of 2021, a decline of 29.5%[33] - The accounts receivable rose to CNY 60,389,614.18 as of March 31, 2022, up from CNY 52,461,025.16 at the end of 2021, indicating an increase of 15.5%[32] - The inventory increased to CNY 45,946,511.26 as of March 31, 2022, compared to CNY 38,779,474.11 at the end of 2021, reflecting a growth of 18.5%[32] - The company's equity attributable to shareholders was CNY 322,413,560.01 as of March 31, 2022, slightly up from CNY 319,480,910.12 at the end of 2021, an increase of 0.6%[34] Shareholder Information - The number of shareholders holding more than 5% of shares remained stable, with a total share capital of 134,990,443 shares[19] - The company reported a total of 68,228,554 shares held by the top ten shareholders, representing 50.5432% of total shares[22] - The largest shareholder, Chen Shouquan, holds 19,760,438 shares, accounting for 14.6384% of total shares[21] - Hubei Huayang Investment Group Co., Ltd. is the second-largest shareholder with 11,158,000 shares, representing 8.2658%[21] Commitments and Legal Matters - The company has made commitments regarding unconfirmed equity matters, ensuring clarity and responsibility in case of disputes[26] - The actual controller of the company has pledged to assist in resolving any future disputes related to unconfirmed shares[26] - The company has confirmed that there are no major risks or disputes regarding its equity structure[26] - There are no ongoing litigation or arbitration matters reported by the company[25] - The company has not engaged in any significant external guarantees or loans during the reporting period[25] - No share buyback activities have been conducted by the company[25] - The company has made commitments to avoid competition and reduce related party transactions, ensuring compliance with regulations[27] Other Income and Expenses - Other income for Q1 2022 was CNY 7,497,700, an increase from CNY 2,751,700 in the same period last year, mainly due to government subsidies[17] - Research and development expenses in Q1 2022 were CNY 2,029,666.43, a decrease of 36.3% compared to CNY 3,188,489.79 in Q1 2021[38] - The company incurred financial expenses of CNY -340,546.12 in Q1 2022, compared to CNY 56,272.56 in Q1 2021[38] - Non-recurring gains and losses for Q1 2022 totaled CNY 7,338,936.14, with a net amount after tax of CNY 6,238,095.72[18]

Company Achievements and Innovations - In 2021, Hubei HuaYang Automobile Gearshift System Co., Ltd. was awarded the "Little Giant" enterprise honor in Hubei Province, recognizing its specialization and innovation[5] - The company obtained 7 patents in 2021, including new products for new energy vehicles and front subframes[5] - The company holds a total of 25 patents, including 1 invention patent, and has obtained 6 software copyrights[25] - The company has developed new products for light-duty truck transmission components and has begun small-scale supply of hydrogen energy products in line with the market demand[55] - The company aims to achieve a production capacity of 50,000 units per year for the lightweight aluminum alloy gearbox housing processing line, with a process capability index (CPK) of ≥1.67[90] Financial Performance - Total operating revenue for 2021 was ¥278,643,768.16, a decrease of 14.33% compared to ¥325,269,367.78 in 2020[29] - Net profit attributable to shareholders was ¥22,097,566.29, down 58.22% from ¥52,889,499.06 in the previous year[29] - The company’s gross profit margin decreased to 17.89% in 2021 from 25.93% in 2020[29] - The weighted average return on equity (ROE) based on net profit attributable to shareholders was 8.64% in 2021, down from 30.56% in 2020[29] - The net cash flow from operating activities was negative at -¥4,768,981.40 in 2021, a decline of 77.54% compared to -¥2,686,202.73 in 2020[32] - The company’s basic earnings per share decreased by 63.46% to ¥0.19 in 2021 from ¥0.52 in 2020[29] - The company reported a significant decrease in accounts payable, which fell to ¥34.11 million, a decline of 51.82% from ¥70.80 million[61] - The company experienced a significant increase in other income, which rose by 53.29% to 5,932,600 CNY, mainly from VAT refunds and government subsidies[65] Market Conditions and Risks - The heavy-duty commercial vehicle market experienced a 13.8% year-on-year decline in 2021, which may impact the company's performance if the trend continues[12] - The company faces risks due to a concentrated customer base, primarily relying on Weichai Holding Group, Fast Gear Group, and Dongfeng Commercial Vehicle Co., Ltd.[11] - Fluctuations in the prices of key raw materials, such as aluminum alloy and steel, significantly affect the company's cost structure and profitability[11] - The heavy-duty truck market saw a significant decline in sales in the second half of 2021, with a year-on-year drop of 56.8% in November[56] - The main customer, Weichai Holding Group, accounted for 67.95% of total sales, indicating a high customer concentration risk[77] Corporate Governance and Structure - The company has established a sound corporate governance structure, including a board of directors, supervisory board, and general meeting, ensuring compliance with relevant laws and regulations[186] - The company has a dedicated investor relations management system, enhancing communication with investors and potential investors, and is currently processing the confirmation of rights for 13 unconfirmed shareholders[188] - The board of directors has set up four specialized committees, including nomination, strategy, audit, and remuneration committees, with independent directors leading most of them[190] - The company has introduced a performance evaluation system for senior management, with compensation linked to the company's profitability[165] - The company has established a responsibility accountability system for major errors in annual reports, with no significant errors reported in recent years[197] Operational Changes and Future Plans - The company plans to initiate its first phase of relocation from July to September 2022, which may impact production and operations[12] - The company plans to expand its product line to cover lightweight gearboxes for various vehicle types, including passenger and commercial vehicles, while increasing R&D investment in automatic transmission systems and new energy products[99] - The operational goals for 2022 include ensuring revenue targets are met, improving production efficiency, and enhancing risk management related to quality and safety[100] - The company is actively developing new customers to reduce reliance on major clients and mitigate risks associated with customer demand fluctuations[103] - The company is preparing for a relocation of operations scheduled for July to September 2022, with plans to minimize production disruptions during the transition[107] Shareholder and Equity Information - The total number of ordinary shares increased from 100,996,443 to 134,990,443 due to the issuance of 33,994,000 new shares[132] - The largest shareholder, Chen Shouquan, holds 14.6384% of the shares, while the second-largest shareholder, Hubei Huayang Investment Group, holds 8.2658%[137] - The total number of shareholders holding more than 5% of shares is 10, with a combined holding of 50.5432%[136] - The company distributed a cash dividend of 2.00 CNY per 10 shares on November 2, 2021[150] - The company has not proposed a cash dividend distribution plan despite having positive undistributed profits[153] Employee and Management Information - The total number of employees decreased from 422 at the beginning of the period to 391 at the end, a reduction of 31 employees, primarily due to decreased customer demand and the implementation of multi-machine operations[163] - The management team saw a reduction in production staff by 35, from 322 to 287, reflecting the company's response to market conditions[163] - The company has a comprehensive salary management system, with employee compensation including salary and allowances, and social insurance provided for eligible employees[165] - The company incurred approximately 350,000 yuan annually in subsidies for retired employees[165] - The total compensation for the chairman is 23.78 million, while the total compensation for the general manager is not specified[156]

证券代码：839946 证券简称：华阳变速 公告编号：2021-087 湖北华阳汽车变速系统股份有限公司 关于接待机构投资者调研情况的公告 | --- | |--------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 | | 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 | | 担个别及连带法律责任。 | 湖北华阳汽车变速系统股份有限公司（以下简称"公司"）于 2021 年 12 月 17 日接待了 1 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2021 年 12 月 17 日 调研地点：公司会议室 调研形式：现场调研 调研机构：华泰证券 上市公司接待人员：副总经理、财务总监吴欢女士、董事会秘书尚宗新先生 二、 调研的主要问题及公司回复概要 2021 年 12 月 17 日下午 14:00，由湖北省证券业协会联合辖区证券公司和 相关投教基地，联合开展"牵手北交所，共迎新起点"走进湖北省首批北交所 上市公司投教活动 ...