香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (股份編號：0038) 2023年第三季度報告 重要內容提示： 公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、 完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 公司負責人、主管會計工作負責人及會計機構負責人（會計主管人員）保證季度報告 中財務信息的真實、準確、完整。 第三季度財務報表未經過審計。 一、釋義 本公司、公司 指 第一拖拉機股份有限公司 本集團 指 本公司及控股子公司 控股子公司 指 上市公司持有其50%以上的股份，或者能夠決定 其董事會半數以上成員的當選，或者通過協議或 其他安排能夠實際控制的公司 A股 指 經中國證監會批准向境內投資者及合資格境外投 資者發行、在中國境內證券交易所上市、以人民 幣標明股票面值、以人民幣認購和進行交易的普 通股 H股 指 經中國證監會批准向境外投資者發行、經香港聯 交所批准上市、以人民幣標明股票面值、以港幣 ...

重要提示 無 六、 前瞻性陳述的風險聲明 本報告涉及的本公司發展戰略、經營計劃等前瞻性陳述不構成本公司對投資者的實質承諾，敬請投資者注意 風險。 七、 是否存在被控股股東及其他關聯方非經營性佔用資金情況？ 否 八、 是否存在違反規定決策程序對外提供擔保的情況？ 否 詳見本報告第三節《管理層討論與分析》。 重要提示 一、 本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實性、準確性、完整性，不存在 虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 公司全體董事出席董事會會議。 三、 本半年度報告未經審計。 四、 公司負責人劉繼國、主管會計工作負責人康志鋒及會計機構負責人（會計主管人員）蔣靜媛聲明：保證半年度 報告中財務報告的真實、準確、完整。 五、 董事會決議通過的本報告期利潤分配預案或公積金轉增股本預案 目錄 | 第一節 | 釋義 | 3 | | --- | --- | --- | | 第二節 | 公司簡介和主要財務指標 | 6 | | 第三節 | 管理層討論與分析 | 11 | | 第四節 | 公司治理 | 24 | | 第五節 | 環境與社會責任 | 27 | | 第 ...

Financial Performance - The net profit for the reporting period was RMB 2,080.31 million, reflecting a 35.06% increase compared to RMB 1,540.25 million in the previous year[4]. - The company reported a total comprehensive income of CNY 826,223,921.78 for the period[18]. - The company’s comprehensive income for the period amounted to 758,214,653.00 RMB, contributing to an increase in retained earnings[195]. - The company distributed dividends totaling 257,982,139.28 RMB during the reporting period[192]. Assets and Liabilities - The company's total assets at the end of the reporting period amounted to RMB 14,205.31 million, with overseas assets accounting for RMB 97.70 million, representing 0.69% of total assets[5]. - The company's asset-liability ratio increased to 50.70%, up 0.71 percentage points from the previous period[10]. - Cash and cash equivalents decreased by 39.16% from RMB 4,363.74 million to RMB 2,655.05 million due to increased purchases of large certificates of deposit[1]. - The company held debt investments totaling RMB 3,085.29 million, which increased by 183.95% from RMB 1,086.57 million due to the acquisition of large certificates of deposit[1]. - The company held its first extraordinary shareholders' meeting in 2023, approving the purchase of financial products using idle funds[24]. - The total equity attributable to shareholders was 5,958,084,951.80 RMB at the end of the previous period, with a total equity of 6,497,170,875.90 RMB[194]. Receivables and Payables - Accounts receivable increased by 225.07% from RMB 351.79 million to RMB 1,143.56 million, influenced by seasonal sales peaks in agricultural machinery[1]. - The company’s total receivables at the end of the period stood at ¥53,140,706.90, compared to ¥26,664,987.91 at the beginning, indicating a growth of approximately 99.9%[156]. - The provision for bad debts increased to ¥367,947,227.53 from ¥350,180,145.80, reflecting a rise in credit risk management[101]. - The company reported a total of ¥123,113,836.52 in accounts receivable with a bad debt provision of ¥8,142,057.73, indicating a focus on managing credit risk[105]. - The company’s accounts payable increased by 42.40% from RMB 2,286.96 million to RMB 3,256.75 million, reflecting increased raw material purchases[4]. Cash Flow - The net cash flow from operating activities for the first half of 2023 was RMB 954,344,139.53, a decrease of 70.9% compared to RMB 3,275,783,250.74 in the same period of 2022[186]. - Total cash inflow from operating activities amounted to RMB 5,732,851,066.37, down from RMB 6,751,912,591.69 year-on-year[186]. - Cash outflow from operating activities increased to RMB 4,778,506,926.84, compared to RMB 3,476,129,340.95 in the previous year[186]. - The total cash and cash equivalents at the end of the period were RMB 2,239,572,429.19, down from RMB 5,126,484,279.03 at the end of the previous year[188]. - The cash inflow from sales of goods and services was RMB 5,482,238,621.05, an increase from RMB 5,293,082,906.48 in the previous year[186]. Taxation - The company reported a significant increase in tax liabilities, with amounts due rising by 236.22% from RMB 21.05 million to RMB 70.77 million due to sustained profit growth[4]. - The company applies a VAT rate of 13% for domestic sales and 9% for certain services, with a corporate income tax rate of 25%[47]. - The company has recognized tax benefits, including a 15% corporate income tax rate for its high-tech subsidiaries, which may enhance profitability going forward[85]. Environmental Compliance - The company has established 16 sets of pollution control facilities to manage wastewater and exhaust emissions, ensuring compliance with environmental standards[58]. - The company achieved a 100% compliance rate for monitoring emissions from all pollution sources during the reporting period[65]. - The company has received no administrative penalties for environmental issues during the reporting period[66]. - The company has developed an emergency response plan for environmental incidents, conducting annual training and drills to ensure preparedness[62]. Strategic Initiatives - The company anticipates risks related to the transition to National IV emission standards, which may suppress user purchasing willingness and lead to a decline in market sales in the short term[19]. - The company aims to leverage its advantages in diesel engines and mainframe products to enhance product reliability and competitiveness in response to the National IV transition[19]. - The company plans to deepen its focus on five key overseas markets and optimize its product mix to maintain a competitive edge amid changing international market conditions[21]. - The company is committed to expanding its agricultural machinery product range while maintaining its competitive advantage in tractor products[21]. Related Party Transactions - The company reported a rental income of 800 million for housing leases and 1.4 billion for land leases from its controlling shareholder, China Yituo, with respective gross profit margins of 91.85% and 92.66%[117]. - The company plans to engage in transactions with its controlling shareholder, China Yituo, with an estimated transaction amount of ¥71 million for procurement agreements[110]. - The financial services agreement with Guoji Finance Company includes deposits totaling 200 billion, with an interest rate not lower than the benchmark rates of major independent commercial banks, and loans amounting to 240 billion, with an interest rate capped at the lower of market rates[117]. Inventory Management - The inventory at the end of the period amounts to CNY 1,297,171,799.48, with a provision for inventory depreciation of CNY 106,605,002.53[12]. - The raw materials inventory decreased by CNY 1,324,040.17 during the period, resulting in a final balance of CNY 71,904,149.15[12]. - The company has not recognized any impairment losses on inventory during the reporting period[18].

Financial Performance - Total operating revenue for the six months ended June 30, 2023, was RMB 7,248,544,566.19, compared to the previous year[2] - Net profit attributable to shareholders for the same period was RMB 754,144,938.68, with earnings per share of RMB 0.6712[2] - Total operating revenue for the first half of 2023 reached CNY 7,248,544,566.19, an increase of 9.3% compared to CNY 6,630,331,281.57 in the same period last year[8] - Net profit for the first half of 2023 was CNY 764,475,408.69, representing a significant increase of 31.5% from CNY 581,385,424.32 in the previous year[9] - Operating profit increased to CNY 818,317,831.85, up 39.4% from CNY 586,835,323.93 year-on-year[9] - The company reported a total profit of CNY 820,998,952.24, an increase of 39.4% compared to CNY 588,874,686.14 in the same period last year[9] - Basic earnings per share rose to CNY 0.6712, compared to CNY 0.5175 in the previous year, reflecting improved profitability[11] - The company achieved investment income of CNY 68,466,234.58, up from CNY 32,825,671.32 in the previous year, indicating better investment performance[8] Assets and Liabilities - Current assets totaled RMB 7,132,248,470.93 as of June 30, 2023, down from RMB 7,882,202,099.51 at the end of 2022, representing a decrease of approximately 9.5%[3] - Non-current assets increased to RMB 7,073,057,302.02 as of June 30, 2023, from RMB 5,109,363,382.17 at the end of 2022, reflecting an increase of approximately 38.5%[4] - Total assets amounted to RMB 14,205,305,772.95, up from RMB 12,991,565,481.68 at the end of 2022, indicating a growth of about 9.3%[7] - Total liabilities reached RMB 7,202,010,187.39, compared to RMB 6,494,394,605.75 at the end of 2022, marking an increase of approximately 10.9%[6] - Shareholders' equity attributable to the parent company increased to RMB 6,460,275,649.38 from RMB 5,958,084,951.83, representing a growth of about 8.4%[7] Cash Flow and Working Capital - The company’s cash and cash equivalents decreased to RMB 2,655,047,976.99 from RMB 4,363,742,346.01, indicating a decline of approximately 39%[3] - Operating cash flow from operating activities decreased by 70.87% to ¥954,344,139.53, down from ¥3,275,783,250.74[54] - Net cash flow from operating activities decreased by RMB 2,321.44 million compared to the same period last year, mainly due to the restructuring of a financial company and the gradual cessation of financial operations[56] - Net cash flow from investing activities increased by RMB 1,816.67 million compared to the same period last year, primarily due to the purchase of structured deposits and large-denomination certificates of deposit[56] - Net cash flow from financing activities decreased by RMB 138.77 million compared to the same period last year, with a net decrease in borrowings of RMB 50 million and an increase in dividend payments of RMB 72 million[56] Accounts Receivable and Payable - The company reported a significant increase in accounts receivable, which rose to RMB 1,143,555,992.17 from RMB 351,792,105.00, reflecting a growth of approximately 224%[3] - The total accounts payable rose from CNY 2,286,961,766.98 to CNY 3,256,745,626.83, reflecting an increase of approximately 42%[38] - The company reported a total of CNY 367,947,227.53 in bad debt provisions at the end of the period, up from CNY 350,180,145.80 at the beginning, marking an increase of about 5%[36] - The company’s accounts receivable aging report shows that the amount overdue for more than three years remained stable at CNY 340,805,592.05, indicating no significant change[30] Market and Operational Strategy - The company plans to continue expanding its market presence in agricultural machinery and power machinery sectors, leveraging its strong financial performance to support growth initiatives[12] - The company is focusing on quality management, market promotion, and cost control for its new National IV products[49] - The company aims to improve operational management and efficiency to enhance value creation capabilities[53] - The company is focusing on technological innovation and product upgrades, particularly in high-end tractor development and specialized models for hilly and mountainous areas[52] - The company aims to enhance its market share by improving the reliability and cost-effectiveness of its products in response to the new National IV emission standards[69] Shareholder Information - The total number of ordinary shareholders as of the reporting period end was 31,872, with 31,556 A-share holders and 316 H-share holders[82] - The largest shareholder, China Yituo Group Co., Ltd., held 548,485,853 shares, representing 48.81% of the total shares[83] - The top ten shareholders included HKSCC Nominees Limited with 387,975,309 shares (34.53%) and Hong Kong Central Clearing Limited with 10,147,486 shares (0.90%)[83] - China Yituo holds 548,485,853 A-shares, representing 74.96% of the beneficial equity and 48.81% of the total equity[88] Governance and Compliance - The company adhered to all principles of the Corporate Governance Code as per the Stock Exchange listing rules during the reporting period[80] - The mid-year results for 2023 have been reviewed by the company's audit committee[81] - The company reported no significant contingent liabilities as of June 30, 2023[79] Employment and Human Resources - As of June 30, 2023, the company employed 7,026 staff members, implementing a salary system linked to job performance[78]

证券代码：601038 证券简称：一拖股份 公告编号：临 2023-27 第一拖拉机股份有限公司 根据《企业会计准则》和公司会计政策的相关要求，为更加准确反映公司 的资产运营质量，公司对已取得确凿证据，符合核销条件的下列资产进行核销 处理。 单位：万元 | 核销资产种类 | 核销资产原值 | 已计提减值准备金额 | | --- | --- | --- | | 应收款项 | 17,227.14 | 17,227.14 | | 委托贷款 | 16,673.36 | 16,673.36 | | 长期股权投资 | 4,650.00 | 4,650.00 | | 合计 | 38,550.50 | 38,550.50 | 二、本次资产核销对公司的影响 本次资产核销符合《企业会计准则》规定及公司实际情况，公司对于上述 资产已全额计提减值准备，核销事项不会对公司当期利润产生影响，不存在损 害公司和全体股东利益的情形。 特此公告。 第一拖拉机股份有限公司董事会 关于资产核销的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 第一拖拉机 ...

证券代码：601038 证券简称：一拖股份 公告编号：临 2023－25 第一拖拉机股份有限公司 第九届董事会第十二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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责任。 第一拖拉机股份有限公司（以下简称"公司"）第九届董事会于 2023 年 8 月 28 日在河南省洛阳市建设路 154 号公司营业地召开第十二次会议（以下简称 "本次会议"），本次会议应出席董事 7 名，实际出席董事 7 名，董事长刘继国先 生主持会议，本次会议召开符合有关法律法规和公司《章程》的规定。公司监事 及部分高级管理人员列席本次会议。经与会董事认真审议议案，形成以下决议： 一、审议通过《公司 2023 年半年度报告及摘要、公司 2023 年半年度业绩 公告》 同意公司 2023 年半年度报告及摘要、2023 年半年度业绩公告，并授权公司 董事会秘书根据公司上市地《上市规则》进行披露。 表决结果：7票同意，0票弃权，0票反对。 特此公告。 表决结果：7票同意，0票弃权，0票反对。 二、审议通过《关于修订公司<资产减值准备核销管理办法>的议案》 ...

关于国机财务有限责任公司的风险持续评估报告 根据《关于规范上市公司与企业集团财务公司业务往来的通知》《上海证券 交易所上市公司自律监管指引第 5 号——交易与关联交易》等要求，第一拖拉机 股份有限公司（一下简称"一拖股份"或"公司"）审阅了国机财务有限责任公 司（以下简称"国机财务"）的《营业执照》与《金融许可证》等资料及相关财 务资料，对国机财务的经营资质、业务和风险状况进行了评估，具体情况报告如 下： 一、国机财务基本情况 国机财务成立于 1989 年 1 月 25 日，原为海南机设信托投资公司，1996 年 2 月更名为中工信托投资公司，2003 年 8 月 19 日，根据中办发[1999]1 号文件精 神，经原中国银行业监督管理委员会银监复（2003）23 号文件批准，正式移交 中国机械工业集团有限公司（以下简称"国机集团"）并改组为国机财务，属非 银行金融机构。2022 年 11 月 8 日取得北京市市场监督管理局换发的企业法人营 业执照。公司住所：北京市海淀区丹棱街 3 号，法定代表人：刘祖晴，金融许可 机构编码：L0010H211000001，统一社会信用代码：9111010810001934X ...

Financial Performance - The total operating revenue for Q1 2023 was CNY 4,190,332,138.08, representing a decrease of 0.53% compared to the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 485,733,620.69, an increase of 1.06% year-on-year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 479,388,454.25, reflecting a growth of 6.36% compared to the previous year[25]. - The basic earnings per share for the period was CNY 0.4323, up by 1.08% year-on-year[25]. - The weighted average return on equity was 7.83%, a decrease of 0.69 percentage points compared to the previous year[25]. - The company reported a net profit of RMB 0 from the merged entity, consistent with the previous period[38]. - The net profit for the period was $496.31 million, compared to $487.72 million in the previous period, indicating a year-over-year increase[47]. - The company reported a total comprehensive income of $496.51 million, compared to $481.65 million in the previous period, reflecting overall financial health[48]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 154,563,446.95, showing a significant increase of 239.24% year-on-year[25]. - The net cash flow from operating activities was $154.56 million, an increase from $45.56 million in the previous period, reflecting a significant improvement in operational efficiency[40]. - In Q1 2023, the cash inflow from operating activities was CNY 2,711,065,456.50, a decrease from CNY 2,921,697,069.56 in Q1 2022[49]. - The net increase in cash and cash equivalents for Q1 2023 was CNY -959,146,359.28, compared to CNY -10,109,325.05 in Q1 2022[50]. - The total cash and cash equivalents at the end of Q1 2023 amounted to CNY 2,560,431,222.59, up from CNY 2,136,658,400.56 at the end of Q1 2022[50]. - The cash received from sales of goods and services in Q1 2023 was CNY 2,596,485,481.63, compared to CNY 2,463,776,078.94 in Q1 2022, indicating a growth of approximately 5.4%[49]. - The cash received from interest, fees, and commissions was CNY 4,388,139.91 in Q1 2023, down from CNY 33,886,456.10 in Q1 2022[49]. - The total cash outflow from financing activities in Q1 2023 was CNY 6,083,507.84, compared to CNY 53,965,699.80 in Q1 2022[50]. - The impact of exchange rate changes on cash and cash equivalents was CNY -996,921.48 in Q1 2023, compared to CNY -4,665,546.40 in Q1 2022[50]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 14,170,127,548.57, which is a 9.12% increase from the end of the previous year[25]. - Total assets reached RMB 14,170,127,548.57, up from RMB 12,986,142,323.23, showing growth in the asset base[35]. - Total liabilities increased to RMB 7,175,206,686.02 from RMB 6,488,971,447.30, indicating a rise in financial obligations[36]. - The company's total equity attributable to shareholders reached approximately $6.44 billion, up from $5.96 billion, showing a healthy growth in shareholder value[45]. - The total liabilities and equity amounted to approximately $14.17 billion, an increase from $12.99 billion, indicating growth in the company's financial base[45]. Operational Efficiency - Total operating costs for Q1 2023 were RMB 3,726,461,515.15, down from RMB 3,746,451,588.44 in Q1 2022, reflecting a cost reduction strategy[37]. - Research and development expenses for Q1 2023 were RMB 82,656,071.97, slightly down from RMB 87,553,444.60 in Q1 2022, reflecting a focus on cost management[37]. - The company recorded a decrease in credit impairment losses, which improved from -46.20 million to -10.16 million, suggesting better asset quality[47]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,713, with 36,397 being A-share holders[12]. Strategic Initiatives - The company is exploring market expansion opportunities but has not disclosed specific strategies or targets in the current report[39]. - The company has not reported any significant new product launches or technological advancements during this period[39]. Investment Activities - The total cash outflow from investing activities amounted to $1.11 billion, compared to $219.98 million previously, indicating a substantial increase in investment expenditures[40]. - The cash paid for investment activities was $1.09 billion, a significant rise from $190.00 million, highlighting aggressive investment strategies[40]. - The company's cash management plan allows for the investment of up to RMB 6.5 billion in low-risk financial products, approved for a period of 12 months[34]. Accounting and Reporting - The company did not apply new accounting standards or interpretations for the first time in 2023[50]. - The board of directors announced the financial results on April 27, 2023[50].

Financial Performance - Operating revenue for the first quarter was CNY 4,190,332,138.08, a decrease of 0.53% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 485,733,620.69, reflecting an increase of 1.06% year-on-year[5] - Basic and diluted earnings per share were both CNY 0.4323, marking a year-on-year increase of 1.08%[5] - Total operating revenue for Q1 2023 was RMB 4,194,351,167.11, a decrease of 1.3% compared to RMB 4,248,612,150.24 in Q1 2022[18] - Net profit for Q1 2023 reached RMB 496,310,653.08, representing an increase of 1.2% from RMB 487,723,236.50 in Q1 2022[21] - Earnings per share for Q1 2023 was RMB 0.4323, up from RMB 0.4277 in Q1 2022[27] - Operating profit for Q1 2023 was RMB 493,309,290.14, slightly up from RMB 489,092,251.09 in Q1 2022[21] Assets and Equity - Total assets at the end of the reporting period reached CNY 14,170,127,548.57, up 9.12% from the end of the previous year[5] - The company's total equity increased to RMB 6,994,920,862.55 as of March 31, 2023, compared to RMB 6,497,170,875.93 at the end of 2022[17] - As of March 31, 2023, the total assets of the company amounted to RMB 14.17 billion, an increase from RMB 12.99 billion as of December 31, 2022, representing a growth of approximately 9.1%[13] - The company's current assets totaled RMB 8.38 billion as of March 31, 2023, compared to RMB 7.88 billion at the end of 2022, indicating an increase of about 6.3%[13] - The total number of ordinary shareholders at the end of the reporting period was 36,713, with the largest shareholder holding 48.81% of the shares[9] Cash Flow and Liabilities - Net cash flow from operating activities surged by 239.24% to CNY 154,563,446.95, attributed to reduced cash outflow following the cessation of new business by the financial company[7] - Operating cash flow for Q1 2023 was RMB 2,596,485,481.63, an increase of 5.4% compared to RMB 2,463,776,078.94 in Q1 2022[29] - Cash inflow from sales of goods and services decreased significantly to RMB -33,163,236.77 from RMB 1,097,848,608.76 in the same period last year[29] - Cash outflow for purchasing goods and services increased to RMB 2,034,691,834.64, up from RMB 1,882,211,603.69 in Q1 2022, reflecting a rise of 8.1%[30] - The total current liabilities increased to RMB 6.82 billion as of March 31, 2023, compared to RMB 6.13 billion at the end of 2022, marking a rise of approximately 11.3%[15] - The company's non-current liabilities totaled RMB 351.20 million, a slight decrease from RMB 361.11 million, indicating a reduction of about 2.5%[16] Investments and Future Plans - The company plans to continue focusing on cash flow management and operational efficiency in the upcoming quarters[7] - The company plans to utilize idle funds of up to RMB 6.5 billion for purchasing low-risk financial products, effective for 12 months from the approval date[12] Other Financial Metrics - Non-recurring gains and losses totaled CNY 6,345,166.44, with significant contributions from government subsidies and other non-operating income[6] - The company had a weighted average return on equity of 7.83%, a decrease of 0.69 percentage points year-on-year[5] - Research and development expenses for Q1 2023 were RMB 82,656,071.97, down from RMB 87,553,444.60 in Q1 2022[18] - Other comprehensive income after tax for Q1 2023 was RMB 203,074.76, compared to a loss of RMB 6,077,647.02 in Q1 2022[23] - The company reported a decrease in interest income to RMB 4,019,029.03 in Q1 2023 from RMB 33,694,498.09 in Q1 2022[18] - The total liabilities and equity ratio improved, with total liabilities at RMB 7,175,206,685.02 as of March 31, 2023, compared to RMB 6,489,971,447.30 at the end of 2022[17] - The company reported a significant increase in tax refunds received, amounting to RMB 88,799,983.47, compared to RMB 7,653,294.15 in Q1 2022[29] - The company experienced a foreign exchange loss of RMB -996,921.48, compared to RMB -4,665,546.40 in the previous year[34]

Financial Performance - Total operating revenue for 2022 reached RMB 12.56 billion, a year-on-year increase of 34.61%[23]. - Net profit attributable to shareholders for 2022 was RMB 681.05 million, reflecting a growth of 55.42% compared to the previous year[23]. - Cash flow from operating activities for 2022 amounted to RMB 3.60 billion, a significant increase of 518.60% year-on-year[23]. - The basic earnings per share for 2022 was RMB 0.6061, up 53.83% from RMB 0.3940 in 2021[24]. - The company's total assets as of the end of 2022 were RMB 12.99 billion, a 5.24% increase from the previous year[23]. - The net asset attributable to shareholders at the end of 2022 was RMB 5.96 billion, representing a 10.29% increase year-on-year[23]. - The net profit after deducting non-recurring gains and losses for 2022 was RMB 771.42 million, a 130.16% increase from 2021[23]. - The weighted average return on net assets for 2022 was 11.99%, an increase of 3.50 percentage points from the previous year[24]. - The company achieved total operating revenue of RMB 12.56 billion in 2022, representing a year-on-year increase of 34.61%[38]. - The sales volume of large and medium tractors reached 88,400 units, marking a 27.58% increase year-on-year[39]. - The domestic tractor market saw a significant growth with a total sales of 375,000 units, a year-on-year increase of 17.2%[38]. Risk Management - The management discussed potential risks in the annual report, emphasizing the importance of risk awareness for investors[8]. - The company is focused on its development strategy and operational plans, which are subject to market risks[8]. - The company faces currency exchange risks as most transactions are settled in RMB, while export trade involves foreign currencies such as USD, HKD, EUR, AUD, and others[95]. - The volatility of raw material and energy prices poses a risk to production cost management, potentially affecting profitability stability[113]. - The company recognizes the risk of having a limited product range and plans to diversify its agricultural machinery offerings to mitigate market risks[114]. - The company faces risks related to market demand fluctuations due to the National IV transition, which may suppress user purchasing intentions temporarily[112]. Corporate Governance - The company held 5 shareholder meetings in 2022, ensuring compliance with regulations and equal rights for all shareholders[116]. - The ninth board of directors consists of 7 members, including 3 independent directors, enhancing decision-making efficiency[116]. - The supervisory board completed its re-election, consisting of 5 members, with 2 employee supervisors, and held 6 meetings during the reporting period[117]. - The company has established a fully independent financial department with a complete internal control mechanism, ensuring independent accounting and tax obligations[118]. - The company has implemented a "five separations" strategy from its controlling shareholder, ensuring independence in assets, personnel, finance, organization, and business[118]. - The company has a structured process for determining remuneration, which involves recommendations from the remuneration committee and approval from the shareholders' meeting[140]. - The company has a focus on corporate governance, ensuring that management practices align with industry standards and regulatory requirements[138]. - The board of directors consists of seven members, with independent non-executive directors making up one-third of the board, ensuring compliance with independence requirements[178]. - The board has adopted a new diversity policy aimed at achieving diversity among board members, currently all members are male[181]. Research and Development - Research and development expenses rose by 27.31% to approximately ¥528.78 million, reflecting the company's commitment to innovation[54]. - The company has made significant advancements in product development, including the completion of domestic improvements for the LF2204 tractor and the introduction of the HB2204 hybrid tractor, expected to enter the market in 2023[50]. - The company plans to strengthen research and development efforts, particularly in high-end and specialized tractors, to enhance product competitiveness[111]. - Investment in R&D has increased by 18%, focusing on smart agricultural technologies and automation[128]. Environmental and Social Responsibility - The company has invested approximately 93.82 million yuan in environmental protection during the reporting period[194]. - The company implemented carbon reduction measures, achieving a decrease of 12,344 tons in CO2 equivalent emissions[195]. - The company invested a total of 257,000 CNY in poverty alleviation and rural revitalization projects, benefiting 1,733 individuals[198]. - The company has established partnerships with 22 key households in poverty alleviation areas, ensuring no return to poverty[200]. - The company has adopted green low-carbon processes in its production lines, including robotic spraying and dry painting techniques[195]. Market Strategy - The company continues to explore market expansion opportunities and new product development strategies[8]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[128]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's production capacity by 30%[128]. - The company aims to enhance its market share and stabilize product sales amid the market adjustments following the implementation of the National IV emission standards[111]. Financial Health - The company reported a significant decline in investment income, down 98.86% to approximately ¥7.29 million, indicating challenges in investment performance[54]. - The company reported a net cash outflow from investment activities of RMB 2,096,009,934.95, which is an increase in outflow of 868.96% year-on-year[85]. - The asset-liability ratio decreased to 49.97%, down 1.55 percentage points from the beginning of the year[91]. - The company has bank borrowings of RMB 27,020 million due within one year and RMB 4,938 million due after one year[92]. Operational Efficiency - The accounts receivable turnover rate improved to 17.07 times, an increase of 4.98 times year-on-year, while inventory turnover rate reached 6.8 times, up by 2.14 times[41]. - The company implemented strict cost control measures, resulting in a decrease in manufacturing cost ratio year-on-year[65]. - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of 2023[128]. - The company has established a comprehensive management control system for subsidiaries, ensuring compliance with operational standards and timely tracking of financial and operational conditions[174].