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。 MINTH GROUP LIMITED 敏實集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：425） 截至二零二三年六月三十日止六個月 中期業績公告 | --- | --- | |-------|----------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 營業額增長約 34.4% ，達到約人民幣 9,747 百萬元（二零二二年同期：約人民幣 7,252 百萬元）。 | | • | 毛利率約 26.3% （二零二二年同期：約 29.1% ）。 | | • | 本公司擁有人應佔溢利增長約 34.9% ，為約人民幣 887 百萬元（二零二二年同期：約 人民幣 658 百萬元）。 | | • | 每股基本盈利約人 ...

Financial Performance - Revenue for 2022 reached RMB 17,306,393 thousand, a significant increase from RMB 13,919,269 thousand in 2021[6] - Net profit attributable to the company's owners in 2022 was RMB 1,500,584 thousand, slightly up from RMB 1,496,507 thousand in 2021[6] - Full-year revenue increased by 24.3% year-on-year to RMB 17.306 billion, with net profit growing by 0.3% to RMB 1.501 billion (core profit increased by 40.9%)[7] - Gross profit increased by 17.2% to approximately RMB 4,784,153,000, with a gross margin of 27.6%, down 1.7% year-over-year due to product mix changes and overseas operations[24] - Operating cash flow increased by RMB 533,630,000 to RMB 1,855,430,000, reflecting healthy cash flow conditions[25] - Net profit for the year reached RMB 1,496,507 thousand, with a total comprehensive income of RMB 1,551,942 thousand[136] - Gross profit for 2022 was RMB 4,784,153 thousand, up from RMB 4,083,774 thousand in 2021[130] - Net profit for 2022 stood at RMB 1,530,361 thousand, slightly lower than RMB 1,579,448 thousand in 2021[130] - Total comprehensive income for 2022 was RMB 1,545,381 thousand, compared to RMB 1,551,942 thousand in 2021[130] - Basic earnings per share for 2022 were RMB 1.304, up from RMB 1.299 in 2021[130] - Diluted earnings per share for 2022 were RMB 1.304, compared to RMB 1.292 in 2021[130] - Investment income for 2022 was RMB 286,410 thousand, slightly higher than RMB 284,999 thousand in 2021[130] - Other income for 2022 increased to RMB 315,084 thousand from RMB 225,014 thousand in 2021[130] - Tax expenses for 2022 were RMB 248,708 thousand, down from RMB 266,364 thousand in 2021[130] - The company's profit attributable to owners for 2022 was RMB 1,500,584 thousand, compared to RMB 1,496,507 thousand in 2021[130] - Profit for the year amounted to RMB 1,500,584 thousand, contributing to a total comprehensive income of RMB 1,545,381 thousand[134] - Dividends recognized as distributions totaled RMB 615,612 thousand for the year[134] Asset and Liability Management - Total assets grew to RMB 33,273,798 thousand in 2022, compared to RMB 29,644,844 thousand in 2021[6] - Total liabilities increased to RMB 15,575,679 thousand in 2022 from RMB 13,089,188 thousand in 2021[6] - The company's equity attributable to owners was RMB 16,917,751 thousand in 2022, up from RMB 16,022,972 thousand in 2021[6] - Non-controlling interests' equity rose to RMB 780,368 thousand in 2022 from RMB 532,684 thousand in 2021[6] - Property, plant, and equipment increased to RMB 13,435,289 thousand in 2022, up 15.6% from RMB 11,623,394 thousand in 2021[131] - Inventory rose to RMB 3,633,134 thousand in 2022, a 22.7% increase from RMB 2,960,843 thousand in 2021[131] - Trade and other receivables grew to RMB 6,540,618 thousand in 2022, up 27.5% from RMB 5,129,652 thousand in 2021[131] - Bank balances and cash decreased to RMB 4,220,651 thousand in 2022, down 23.1% from RMB 5,491,959 thousand in 2021[131] - Total equity increased to RMB 17,698,119 thousand in 2022, up 6.9% from RMB 16,555,656 thousand in 2021[132] - Non-current liabilities decreased to RMB 2,261,779 thousand in 2022, down 39.1% from RMB 3,711,744 thousand in 2021[132] - The company's total assets minus current liabilities stood at RMB 19,959,898 thousand in 2022, slightly down from RMB 20,267,400 thousand in 2021[131] - Non-controlling interests increased to RMB 780,368 thousand in 2022, up 46.5% from RMB 532,684 thousand in 2021[132] - Capital commitments for property, plant, and equipment amounted to RMB 576,165 thousand as of December 31, 2022[26] - Total bank borrowings stood at approximately RMB 8,198,196 thousand, with RMB 2,621,174 thousand at fixed rates and RMB 5,577,022 thousand at floating rates[27] - Cash and cash equivalents in non-functional currencies totaled approximately RMB 413,410 thousand, including RMB 184,657 thousand in USD and RMB 178,016 thousand in EUR[27] - Capital expenditures for the year reached approximately RMB 3,414,270 thousand, driven by expansion in battery boxes, chassis components, and smart exterior parts[29] - The company pledged assets worth RMB 192,478 thousand in receivables and RMB 900,000 thousand in bank deposits to secure borrowings of RMB 798,971 thousand[28] - The company's distributable reserves as of December 31, 2022, amounted to approximately RMB 4,563 million[68] Business Expansion and Orders - Battery box business revenue surged by over 650% year-on-year to RMB 2.044 billion, with a segment profit margin improving to 18.8%[7] - New business orders reached RMB 15.6 billion in 2022, with both innovative and traditional products performing well[7] - Global production network expanded with new facilities under construction in Poland and France, complementing existing operations in China, Thailand, the US, Mexico, Japan, Germany, the UK, Serbia, Czech Republic, and South Korea[7] - The company secured significant battery box orders, including a major global platform order from Mercedes-Benz, two platform orders from Stellantis, and orders from Lucid, XPeng, and Li Auto[15] - The company achieved breakthroughs in intelligent products, securing orders for illuminated logos and grilles from Geely, Volkswagen, and General Motors, as well as smart B-pillar orders and smart tailgate orders from Nissan and XPeng[16] - The company signed a memorandum of understanding with Renault to establish a joint venture in France, aiming to supply battery boxes for multiple Renault electric vehicle models[16] - The company initiated the construction of a battery box factory in Poland and planned to replicate the successful model of its Serbia battery box factory in North America[16] - The company expanded its product portfolio and customer base, securing orders from BYD, Leapmotor, Hozon, and Jidu, and breaking into Honda's luggage rack business in Japan[16] - The company optimized supply chain planning in its U.S. factory to enhance profitability and expanded production capacity at its Mexico aluminum parts factory to meet growing order demands[16] - The company established joint ventures with Zhejiang Sanhua Intelligent Controls Co., Ltd. and Magna International to better expand business and provide improved services to customers[16] - The company has established a competitive advantage in the battery box business, becoming a system solution provider with full-process vertical integration capabilities, and has signed a memorandum of understanding with Renault to establish a joint venture factory in France[17] - The company has secured project orders from traditional automakers and new car manufacturers, further solidifying its position as one of the world's largest battery box suppliers[17] Market Trends and Industry Analysis - China's passenger vehicle production and sales increased by 11.2% and 9.5% year-on-year, respectively, with new energy vehicle sales surging by 93.4% to over 6.8 million units, capturing a 25.6% market share[9] - Global light vehicle sales declined by 0.6% year-on-year to 80.98 million units, with significant drops in mature markets like the US (-7.8%), Japan (-8.3%), and Western Europe (-4.1%)[10] - Emerging markets such as Brazil (+1.5%), India (+21.2%), Thailand (+11.9%), and Mexico (+7.0%) showed growth, while Russia experienced a sharp decline of 58.8%[10] - In 2022, China's new energy vehicle sales nearly doubled, with a penetration rate of 25.6%, leading globally[34] - The China Association of Automobile Manufacturers predicts that China's passenger car sales in 2023 will reach approximately 23.8 million units, with new energy passenger car sales expected to be around 9 million units, achieving a penetration rate of 38%[34] - S&P Global Mobility forecasts global light vehicle sales in 2023 to reach approximately 83.54 million units, a year-on-year increase of 6.1%[34] Innovation and R&D - The company's core values include integrity, mutual trust, and innovation in making cars lighter, more beautiful, and smarter[2] - The company aims to be a global leader in the automotive parts industry by 2025[2] - The company optimized traditional products through process, manufacturing technology, and production mode improvements, enhancing comprehensive competitiveness and deepening client penetration[12] - The company secured multiple orders for innovative products such as chassis components and smart exterior parts, ensuring future revenue growth[12] - The company's digital transformation center achieved personalized, differentiated, and customized product and service applications, significantly improving digital service quality and efficiency[12] - The company introduced digital tools to integrate deeply with business processes, enhancing end-to-end collaboration and data asset utilization[12] - The company's future factory project achieved mass production, serving as a benchmark for digital transformation[12] - The company developed Minal-S632 collision aluminum alloy with a yield strength of 320Mpa, achieving international advanced levels[18] - The company's ECO-ALUMIN® S series green collision aluminum uses up to 80% recycled materials, with carbon emissions below 2.5KG CO2e[18] - The company secured a smart B-pillar assembly order from a Chinese brand, becoming one of the few global suppliers capable of independent development[18] - The company filed 635 new patents in the review year, including 12 international patents, and was granted 592 patents[18] - The company is focusing on R&D in battery box technology, developing diversified solutions from multiple dimensions such as structure, cell compatibility, and materials, and expanding into related products like front and rear crash modules and subframes[17] - The company is advancing in the intelligent exterior parts sector, developing integrated intelligent front-face solutions with functions like lighting, heating, wave transmission, and automatic cleaning, applicable to L4+ autonomous driving scenarios[17] Sustainability and Corporate Responsibility - The company established a Sustainability Committee to provide recommendations and assistance to the Board in identifying, assessing, and managing sustainability matters related to the company and its subsidiaries[13] - The company implemented a digital EHS system with 5 major modules, enhancing global factory EHS management efficiency and risk prevention capabilities[13] - The company completed ISO50001 energy management training and certification for 5 factories, achieving annual energy management goals[13] - The company's million-hour work injury rate was approximately 1.0, with no major safety, fire, environmental, or occupational health incidents reported[14] - The company released the "Minth Group Internal Control and Risk Management System" and "Minth Group Internal Control and Risk Management Guidelines" to enhance risk management across functional departments and operational units[14] - The company developed an audit risk control model to identify and warn of risks, continuously updating and maintaining the authorization framework system[14] - The company's subsidiary, Jiaxing Minhui Auto Parts Co., Ltd., passed the ISO37001 anti-bribery management system certification, strengthening anti-corruption measures[14] - The company updated and released the "Minth Group Business Conduct and Ethics Code" and "Minth Group Ethics and Compliance Reporting Policy" to standardize business ethics and compliance requirements[14] - The company's Minth Love Foundation invested RMB 3,734,000 in public welfare projects, with cumulative charitable expenditures exceeding RMB 40,297,000[19] - The company is committed to green manufacturing and sustainable development, focusing on environmental responsibility and implementing low-carbon operations through digitalization, green energy, and recycling economy[117] - The company has implemented measures to reduce its carbon footprint, including expanding photovoltaic power generation facilities and using low-carbon materials like green aluminum and recycled plastics[117] Corporate Governance and Leadership - The company's ultimate controlling shareholder, Qin Ronghua, holds 450,072,000 shares, representing approximately 38.74% of the total issued shares[36] - Qin Qianya, an executive director, holds 250,000 share options and is responsible for the company's global strategic work[36] - Ye Guoqiang, an executive director and global R&D senior vice president, holds 360,000 share options and has extensive experience in the company's R&D innovation field[36] - Wang Jing, an independent non-executive director, holds 200,000 share options and has over 30 years of experience in investment banking, securities, finance, and fund management[36] - Wu Delong, an independent non-executive director, holds 100,000 share options and has a background in accounting and corporate governance, currently serving as an independent director for several listed companies[37] - The company has adopted a new Remuneration Committee Terms of Reference on January 31, 2023, and reviewed/revised policies such as the "Internal Control and Risk Management System," "Code of Business Conduct and Ethics," and "Ethics and Compliance Reporting Policy and Procedures" on April 18, 2022[40] - The company's Board of Directors consists of six members as of December 31, 2022, including the Chairman, two other Executive Directors, and three Independent Non-Executive Directors[41] - The company emphasizes maintaining high standards of corporate governance and continuously reviews and improves its governance and internal control practices[40] - The company's Senior Management, led by Chief Operating Officer Liu Yanchun, focuses on enhancing operational efficiency and has extensive experience in quality systems, factory management, R&D, and operations[39] - The company's Chief Financial Officer, Zhang Yuxia, has over 17 years of experience in finance, taxation, and global investment and M&A management, and holds a CPA qualification[39] - The company's Chief Strategy Officer, Qin Guofeng, is responsible for overall strategic positioning and managing relationships with clients, government, investors, and other external stakeholders[39] - The company's Corporate Secretary, Yi Leili, holds a Master's degree in Corporate Governance and has over 20 years of experience in the company's business and operations[39] - The company's Independent Non-Executive Director, Chen Quanshi, has over 40 years of experience in the automotive field, specializing in electric vehicles, hybrid vehicles, and fuel cell vehicles[38] - The company has fully complied with all code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules during the review period[40] - The company's Board of Directors believes that the Independent Non-Executive Directors contribute relevant experience to Board affairs and decision-making without being influenced by management[41] - The Board of Directors held 16 meetings during the review year, with attendance records detailed on page 28 of the annual report[43] - The Audit Committee reviewed the effectiveness of the Group's internal control systems and internal audit function before submitting the financial statements to the Board for approval[44] - The Remuneration Committee, established in November 2005, is responsible for formulating and executing the company's remuneration policies, ensuring transparency and preventing conflicts of interest in determining executive pay[45] - The company's Chairman, Ms. Wei, assumed the role of CEO on June 13, 2022, following the resignation of the former CEO, Mr. Chen, on May 31, 2022[42] - Independent Non-Executive Directors have no financial or business interests in the Group, except for disclosed share options, and are confirmed as independent by the company[42] - The Board of Directors is responsible for formulating and monitoring business strategies, ensuring higher corporate value for shareholders[42] - The Audit Committee held two meetings during the review year, focusing on reviewing financial statements and evaluating significant internal control and financial matters[45] - The company's governance policies and practices, including compliance with legal and regulatory requirements, are regularly reviewed and monitored by the Board[42] - The Remuneration Committee considers factors such as peer company compensation, time commitment, and employment conditions when formulating remuneration policies[45] - The company's internal control systems and risk management frameworks are regularly reviewed by the Audit Committee to ensure effectiveness[44] - The company adopted a new share option plan in 2022, which is valid for 10 years and aligns with the 2012 share option plan[46] - The company implemented a share award plan in July 2020 to incentivize key employees[46] - The nomination committee held three meetings in 2022 to review the board's structure, assess the independence of non-executive directors, and adopt a board diversity policy[48] - The nomination committee considered multiple aspects of board diversity, including gender, age, cultural and educational background, professional expertise, and industry knowledge[48] - The company's board diversity policy includes measurable goals to achieve diversity, though no specific targets were set in 2022[48] - Female employees accounted for 28.3% of the group as of December 31, 2022, with 50.0% of senior management being female[49] - The company established a Sustainability Committee on December 29, 2022, consisting of five directors, including two female directors[49] - The Board held 16 meetings in 2022, with all independent non-executive directors attending all meetings[51] - The company's dividend policy ensures sufficient cash reserves for long-term operational needs and future growth[49] - Shareholders holding at least 10% of the company's paid-up capital can request a special general meeting[50] - The company encourages gender diversity at all levels, including the Board, and aims to maintain appropriate gender balance[49] - All directors participated in continuous professional development and training during the review year[52] - The company's dividend distribution considers factors such as financial performance, cash flow, and future operational needs[49] - The company's corporate governance report highlights the importance of shareholder rights and equal treatment[50] - The company's Sustainability Committee focuses on identifying and managing environmental, social, and governance (ESG)

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。 MINTH GROUP LIMITED 敏實集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：425） 截至二零二二年十二月三十一日止年度 末期業績公告 | --- | --- | |-------|---------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 營業額增長約 24.3% ，達到約人民幣 17,306.4 百萬元（二零二一年：約人民幣 13,919.3 百萬元）。 | | • | 毛利增長約 17.2% ，達到約人民幣 4,784.2 百萬元（二零二一年：約人民幣 4,083.8 百 萬元）。 | | • | 本公司擁有人應佔溢利增加約 0.3% ，達到約人民幣 1,500.6 百萬元 ...