Financial Performance - Total comprehensive income for the first nine months of 2023 reached RMB 42,457,184.81, a significant increase from RMB 7,924,051.15 in the same period of 2022, representing a growth of 436.36%[5] - Net profit attributable to shareholders for the first nine months of 2023 was RMB 40,726,450.14, up 546.38% from RMB 6,300,744.99 in the previous year[5] - Basic earnings per share for the first nine months of 2023 was RMB 0.0516, a 545.00% increase compared to RMB 0.0080 in the same period last year[5] - The company reported a net profit of RMB 20,889,280.63 for Q3 2023, a remarkable increase of 283.63% compared to the same quarter last year[12] - For the period from January to September 2023, the net profit attributable to shareholders of the listed company was RMB 40,726,450.14, representing an increase of 546.38% year-on-year[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 23,503,241.54, up 262.51% compared to the same period last year[26] - Operating revenue for the first nine months of 2023 reached ¥1,176,522,433.74, a 27% increase from ¥926,736,014.87 in the same period of 2022[42] - Net profit for the first nine months of 2023 was ¥42,457,184.81, compared to ¥7,924,051.15 in the previous year, representing a significant increase[42] Revenue and Sales Growth - Operating revenue for Q3 2023 was RMB 448,574,495.50, reflecting a year-on-year increase of 20.36%[12] - The company has seen an increase in sales of hydraulic circulation ball steering gear and electric power steering systems, contributing to revenue growth[26] - New products such as smart electric circulation ball steering gear and smart hydraulic circulation ball steering gear have begun mass production, providing new revenue sources[26] Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months of 2023 was negative RMB 20,619,730.80, a decline of 127.44% compared to the previous year[12] - Cash flow from operating activities showed a net outflow of ¥20,619,730.80 in 2023, contrasting with a net inflow of ¥75,132,699.54 in 2022[35] - Cash flow from investing activities showed a net outflow of ¥41,212,446.93 in 2023, an improvement from a net outflow of ¥88,074,487.83 in 2022[35] - The company obtained loans totaling ¥158,000,000.00 in 2023, down from ¥186,000,000.00 in the previous year, indicating a potential shift in financing strategy[35] Assets and Liabilities - The total assets as of September 30, 2023, amounted to RMB 2,498,336,948.18, an increase of 4.56% from RMB 2,389,483,168.38 at the end of 2022[12] - The company's total liabilities as of September 30, 2023, amounted to RMB 1,082,781,791.51, an increase from RMB 1,016,385,196.52 at the end of 2022[30] - The total equity attributable to shareholders of the parent company increased to RMB 1,433,387,326.83 from RMB 1,392,660,876.69 at the end of 2022[30] - The company's current liabilities totaled RMB 1,009,745,991.00, compared to RMB 938,866,486.73 at the end of 2022, reflecting a growth in short-term obligations[30] - Long-term borrowings decreased to RMB 35,013,105.00 from RMB 43,816,783.33 at the end of 2022, indicating a reduction in long-term debt[30] Research and Development - Research and development expenses increased to ¥79,309,832.33 in 2023, up from ¥65,628,133.92 in 2022, reflecting a focus on innovation[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 112,438, with the largest shareholder holding 36.40% of the shares[16]

2. 金融資產和金融負債的確認依據、計量方法和終止確認條件 (2) 金融資產的後續計量方法 採用實際利率法，按照攤餘成本進行後續計量。以攤餘成本計量且不屬於任何套期關係的一 部分的金融資產所產生的利得或損失，在終止確認、重分類、按照實際利率法攤銷或確認減 值時，計入當期損益。 採用公允價值進行後續計量。採用實際利率法計算的利息、減值損失或利得及匯兌損益計入 當期損益，其他利得或損失計入其他綜合收益。終止確認時，將之前計入其他綜合收益的累 計利得或損失從其他綜合收益中轉出，計入當期損益。 19 浙江世寶股份有限公司 中期報告2023 三、 重要會計政策和會計估計（續） 預期信用損失，是指以發生違約的風險為權重的金融工具信用損失的加權平均值。信用損失，是 指公司按照原實際利率折現的、根據合同應收的所有合同現金流量與預期收取的所有現金流量之 間的差額，即全部現金短缺的現值。其中，對於公司購買或源生的已發生信用減值的金融資產， 按照該金融資產經信用調整的實際利率折現。 公司利用可獲得的合理且有依據的信息，包括前瞻性信息，通過比較金融工具在資產負債表日發 生違約的風險與在初始確認日發生違約的風險，以確定金融工具的信用風 ...

Financial Performance - Total operating revenue for the first half of 2023 reached RMB 727,947,938.24, representing a year-on-year increase of 31.39% compared to RMB 554,052,591.58 in the same period of 2022[14] - Net profit attributable to shareholders for the first half of 2023 was RMB 19,837,169.51, a significant increase of 2,218.41% from RMB 855,638.15 in the previous year[14] - The company reported a basic earnings per share of RMB 0.0251 for the first half of 2023, up 2,181.82% from RMB 0.0011 in the same period last year[14] - Total revenue for the first half of 2023 reached RMB 5,727,947,938.24, a significant increase from RMB 554,052,591.58 in the same period of 2022, representing a growth of approximately 935%[25] - Net profit for the first half of 2023 was RMB 21,225,695.47, compared to RMB 1,249,399.27 in the first half of 2022, indicating a substantial increase[25] Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of RMB -61,917,321.13, a decline of 223.30% compared to a net inflow of RMB 50,216,520.98 in the previous year[14] - Total assets as of June 30, 2023, were RMB 2,413,186,096.90, showing a slight increase of 0.99% from the previous year[14] - The company's cash and cash equivalents decreased to RMB 226,210,560.31 from RMB 232,225,660.78 at the end of 2022[18] - Accounts receivable increased significantly to RMB 1,555,386,057.81 as of June 30, 2023, compared to RMB 450,378,856.64 at the end of 2022, reflecting a growth of approximately 245%[18] - The net value of current assets was RMB 486,020,442.64 as of June 30, 2023, an increase from RMB 461,291,615.20 at the end of 2022[59] Liabilities and Equity - Current liabilities totaled RMB 945,741,204.61 as of June 30, 2023, slightly up from RMB 938,866,486.73 at the end of 2022[20] - The total liabilities as of June 30, 2023, were RMB 1,018,862,429.57, slightly up from RMB 1,016,385,196.52 at the end of 2022[20] - The company's equity attributable to shareholders increased to RMB 1,412,498,046.20 as of June 30, 2023, from RMB 1,392,660,876.69 at the end of 2022[20] Research and Development - Research and development expenses for the first half of 2023 were RMB 50,292,023.37, compared to RMB 40,783,290.97 in the same period of 2022, indicating an increase of approximately 23%[25] - The company plans to accelerate the development of intelligent steering products and modular supply capabilities, focusing on the research and development of steer-by-wire technology[82] Market Performance - Sales of new energy vehicles in China grew by 42.40% year-on-year, with production and sales reaching 378.80 million and 374.70 million units respectively[5] - Sales of domestic brand passenger vehicles increased by 22.40% year-on-year, with total sales reaching 5,986,000 units[5] - In the first half of 2023, the Chinese automotive market experienced a significant recovery, driven by promotional policies and the launch of new models, resulting in high cumulative growth[87] - The macroeconomic mild recovery is expected to further release consumer potential in the automotive market, with the industry anticipated to achieve stable growth for the entire year[87] Other Financial Metrics - The gross profit margin for the automotive parts and components manufacturing segment was 17.36%, reflecting an increase of 1.53% year-on-year[8] - The weighted average return on net assets for the first half of 2023 was 1.41%, up from 0.06% in the same period last year[14] - The gross profit from main business operations was RMB 119,930,447.99, an increase of RMB 36,173,544.66 compared to the same period last year, with a gross profit margin of 17.36%[65] - Investment income increased by 112.33% year-on-year to RMB 845,506.53, mainly due to an increase in the amount of bank short-term financial products redeemed[67] Tax and Regulatory Matters - The company and its subsidiaries have applied for re-certification as high-tech enterprises, maintaining a corporate income tax rate of 15% during the reporting period[31] - The company has received a 100% exemption on urban land use tax for the current period, as recognized as an A-class enterprise[34] - The company has applied for a VAT refund policy for software products, which allows for immediate refund of VAT exceeding 3%[34] Dividends and Shareholder Returns - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023[63]

Financial Performance - The company reported a revenue of RMB 345,001,524.92 for Q1 2023, representing a year-on-year increase of 32.37%[18] - Net profit attributable to shareholders reached RMB 9,070,150.47, a turnaround from a loss of RMB -4,032,392.53 in the same period last year, marking a growth of 324.93%[18] - Total operating revenue for Q1 2023 reached RMB 345,001,524.92, a 32.3% increase from RMB 260,633,969.48 in Q1 2022[25] - Net profit for Q1 2023 was RMB 9,936,100.98, compared to a net loss of RMB 4,643,666.21 in Q1 2022, marking a significant turnaround[25] - The company achieved a net profit excluding non-recurring gains and losses of RMB 5,465,326.94, compared to a loss of RMB -11,886,686.15 in the same period last year, an increase of 145.98%[16] Earnings Per Share - The company’s basic and diluted earnings per share were both RMB 0.0115, compared to a loss of RMB -0.0051 in the previous year, reflecting a 325.49% increase[16] - The basic and diluted earnings per share for Q1 2023 were both RMB 0.0115, recovering from a loss of RMB 0.0051 per share in Q1 2022[34] Cash Flow - The net cash flow from operating activities was RMB -16,609,425.13, a decrease of 355.06% compared to the previous year[18] - In Q1 2023, the cash inflow from operating activities was RMB 226,213,016.21, an increase of 21.9% compared to RMB 185,606,864.38 in Q1 2022[36] - The net cash flow from operating activities turned negative at RMB -16,609,425.13, compared to a positive RMB 6,511,908.60 in the same period last year[36] - The total cash outflow from operating activities was RMB 242,822,441.34, compared to RMB 179,094,955.78 in Q1 2022, representing a 35.5% increase[36] - The cash received from sales of goods and services was RMB 190,712,250.84, a rise of 31.0% from RMB 145,545,761.79 in Q1 2022[36] - The cash paid for purchasing goods and services increased to RMB 139,125,858.22 from RMB 91,090,384.81, marking a 52.8% increase year-over-year[36] Assets and Liabilities - Total assets as of March 31, 2023, were RMB 2,354,610,774.27, a decrease of 1.46% from December 31, 2022[16] - The company’s total liabilities decreased, indicating improved financial stability and management of resources[12] - The total liabilities as of March 31, 2023, were RMB 971,576,701.43, a decrease from RMB 1,016,385,196.52 at the end of 2022[31] - The total equity attributable to shareholders of the parent company was RMB 1,401,731,027.16 as of March 31, 2023, showing a slight increase from the previous year[31] Investment and R&D - The company reported an investment income of RMB 567,011.95 in Q1 2023, compared to RMB 102,455.26 in Q1 2022, indicating improved investment performance[25] - Research and development expenses increased to RMB 25,280,891.98 in Q1 2023, up from RMB 20,325,622.00 in Q1 2022, indicating a focus on innovation[25] Strategic Plans - The company plans to continue expanding its product lines, particularly in electric steering systems for passenger vehicles and commercial vehicle steering products[18] Cash Flow Management - The company's cash flow management appears stable, with short-term borrowings remaining consistent at approximately RMB 153 million[31] - The ending cash and cash equivalents balance was RMB 139,207,294.08, up from RMB 117,193,602.52 in Q1 2022, indicating a 18.8% increase[36] Related Party Transactions - The company has no significant related party transactions or financing activities reported among the top shareholders[21]

Financial Performance - The company's operating revenue for the automotive parts and components manufacturing segment was RMB 1,328,037,578.29, representing a year-on-year increase of 19.48%[28]. - The gross profit margin for the steering systems and components was 16.48%, a decrease of 2.02% compared to the previous year[28]. - The company's main business gross profit for the reporting period was RMB 231,523,116.74, an increase of RMB 14,865,957.90 year-on-year, with a gross profit margin of 17.43%, down from 19.49% in 2021[45][48]. - The net profit attributable to shareholders for the reporting period was RMB 15,823,592.47, a decrease of 53.67% year-on-year[51]. - The company reported a financial expense of RMB 4,851,761.29, an increase of 1.05% year-on-year due to higher interest expenses from increased borrowings[25]. - The total amount of loans and borrowings at the end of the reporting period was RMB 196,780,000.00, an increase of RMB 25,000,000.00 from the beginning of the year, primarily due to increased mortgage loans[62]. - The company’s inventory increased by 22.64% year-on-year, reaching 319,049 units[54]. - The total investment cash outflow was approximately ¥359.79 million, a 1.13% increase from ¥355.76 million in the previous year[70]. - The company reported a net increase in cash and cash equivalents of approximately ¥13.03 million, a substantial improvement from a decrease of ¥2.44 million in 2021, marking a 634.71% change[70]. - The net cash flow from operating activities reached ¥110.87 million, representing a significant increase of 179.76% compared to ¥39.63 million in the previous year[70]. Research and Development - Research and development personnel increased by 10.12% to 381, accounting for 22.45% of the total workforce[34]. - Research and development expenses amounted to RMB 99,668,577.85, a year-on-year increase of 23.84%, representing 7.19% of operating revenue, indicating a focus on safety, intelligence, automation, energy-saving, and lightweight technologies in automotive steering systems[49]. - The company aims to enhance its R&D and production capabilities to achieve international competitiveness in steering systems and key automotive components[20]. - The company focuses on the research and development of automotive steering products, including steering gears and key components of steering systems[155]. - The company has established provincial-level technology centers and research institutes to support innovation in automotive steering systems[109]. - The company has launched an electric power steering system that operates independently of the engine, significantly reducing fuel consumption and environmental pollution[109]. - The company invested 7.19% of its sales revenue in research and development in 2022[109]. Market and Sales - The total sales volume of steering systems and components reached 2,155,984 units, a year-on-year increase of 12.97%[28]. - The company sold 2,155,984 units of automotive parts in 2022, a year-on-year increase of 12.97%, while production volume rose by 14.97% to 2,214,891 units[54]. - The top five customers accounted for 56.77% of the total annual sales, with total sales amounting to RMB 786,948,831.97[55]. - The company has begun to expand its overseas market presence, achieving initial success in exporting automotive steering systems and key components[85]. Operational Challenges - The company faced risks related to product quality, technological updates, and fluctuations in raw material prices, which could impact operational performance[84]. - The automotive industry has faced challenges, impacting the company's financial performance and necessitating a focus on operational liquidity[92]. - Despite challenges such as macroeconomic impacts and supply chain issues, the Chinese automotive market showed overall recovery and positive growth in 2022[76]. - The company is under pressure to continuously develop new technologies and products to meet the evolving demands of automotive manufacturers, which is critical for maintaining competitiveness[79]. Employee and Compensation - The total employee compensation and benefits for the reporting period amounted to RMB 210.23 million, an increase from RMB 195.30 million in 2021[95]. - The company has 1,697 employees as of December 31, 2022, compared to 1,636 employees in 2021[95]. - The company has established a flexible talent introduction and incentive policy to attract external talent[174]. - The company provides substantial compensation and benefits to employees in accordance with market practices and relevant Chinese regulations[184]. - The company confirmed that it has made the required contributions to the retirement plan for qualified employees in China as of December 31, 2022[198]. - The company has established a training plan focusing on both job skills and comprehensive management training for employees[174]. Financial Policies and Dividends - The company’s profit distribution policy remains unchanged, with a principle of annual profit distribution and a preference for cash dividends[90]. - The board has decided not to propose a cash dividend for the 2022 fiscal year, citing the need to cover previous losses and maintain operational capital[92]. - The board believes that not distributing cash dividends in 2022 is in the best interest of all shareholders, especially minority shareholders[92]. - The company plans to retain profits for future operational needs and to reduce financial costs, supporting sustainable development[92]. - The company reported a profit distribution plan for the 2022 fiscal year, stating no cash dividends, bonus shares, or capital reserve transfers to increase share capital[137]. - The company maintains a stable and continuous profit distribution policy, considering shareholder returns and sustainable development[115]. Environmental and Regulatory Compliance - The company has achieved ISO 14001 environmental management system certification for its subsidiaries, indicating compliance with environmental standards[158]. - The company has invested in environmental protection facilities and has met local government environmental requirements for wastewater and waste gas emissions[157]. - The company emphasizes the integration of economic and environmental benefits in its production processes[108]. - The company has adhered to relevant regulations from the China Securities Regulatory Commission and stock exchanges during the reporting period[110]. Supplier and Customer Relationships - The company’s top five suppliers accounted for 18.46% of the total annual procurement amount, totaling RMB 191,415,705.98[32]. - As of December 31, 2022, the top five suppliers accounted for 18.46% of total procurement, while the top five customers represented 56.77% of total revenue[175]. - The largest supplier and customer contributed 5.70% and 20.28% to total procurement and revenue, respectively[175].

编号：2023-001 | 投资者关系活动类 | □特定对象调研 □分析师会议 | | --- | --- | | 别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及人 | 线上参与公司浙江世宝 2022 年度网上业绩说明会的投 | | 员姓名 | 资者 | | 时间 | 2023 年 03 月 30 日（星期四）下午 15:00-17:00 | | 地点 | "浙江世宝 IR"微信小程序 | | 上市公司接待人员 | 董事长：张世权先生 | | 姓名 | 董事兼财务负责人：张兰君女士 | | | 董事兼董事会秘书：刘晓平女士 | | | 1、问：净利润同比下滑 53.67%的原因？ | | | 答：你好!2022 年公司营业收入同比上升 17.70%，但毛 | | | 利率同比下降约 2 个百分点。主要原因为乘用车电动转 | | | 向系统产品销售大幅上升，但其毛利相对较低，而毛利 | | | 率较高的商用车转向产品受商用车市场不良影响，销售 | | | 下降。同时为保持公司持续发展的竞争优势 ...

Financial Performance - The total operating revenue for the year ended December 31, 2022, was RMB 1,386,395,566.38, an increase from RMB 1,177,915,845.96 in 2021, representing a growth of approximately 17.7%[6] - The net profit attributable to shareholders for the year was RMB 15,823,592.47, down from RMB 34,156,323.88 in the previous year, indicating a decline of about 53.7%[6] - The company reported a total comprehensive income of RMB 18,263,799.30 for the year, down from RMB 25,594,976.63 in 2021, reflecting a decline of about 28.5%[6] - The company's net profit attributable to ordinary shareholders for 2022 was CNY 15,823,592.47, resulting in a basic earnings per share (EPS) of CNY 0.02, down from CNY 0.04 in 2021[38] - The net profit attributable to ordinary shareholders after deducting non-recurring gains and losses was CNY -9,657,861.73, leading to a diluted EPS of CNY -0.01, compared to CNY 0.002 in 2021[38] - Non-recurring gains and losses for 2022 amounted to CNY 25,481,454.20, a decrease from CNY 32,547,101.99 in 2021[40] - The company's operating revenue reached RMB 1,386,395,566.38, representing a year-on-year increase of 17.70%[62] - The company's capital debt ratio at the end of the reporting period was 2.92%, up from 2.12% at the end of the previous year[74] - The weighted average return on net assets was 1.14%, down from 2.51% in 2021, indicating a decline of 1.37%[132] Assets and Liabilities - The total liabilities as of December 31, 2022, amounted to RMB 1,016,385,196.52, compared to RMB 720,624,684.62 in 2021, reflecting an increase of approximately 41.1%[5] - The total assets as of December 31, 2022, were RMB 2,389,483,168.38, up from RMB 2,075,458,857.18 in 2021, marking a growth of about 15.1%[5] - The total current liabilities as of December 31, 2022, were RMB 938,866,486.73, compared to RMB 664,062,173.33 in 2021, which is an increase of approximately 41.3%[5] - The total equity attributable to shareholders was RMB 1,392,660,876.69 as of December 31, 2022, compared to RMB 1,376,837,284.22 in 2021, showing a slight increase of approximately 1.1%[5] - The company's total assets minus current liabilities as of December 31, 2022, were CNY 1,450,616,681.65, compared to CNY 1,411,396,683.85 in 2021[61] Cash Flow and Expenses - The net cash flow from operating activities was RMB 110,871,280.81, a significant increase of 179.76% year-on-year, mainly due to higher cash receipts from sales[71] - Cash flow from operating activities increased by 179.76% year-on-year, reaching RMB 110,871,280.81[93] - The company’s cash and cash equivalents increased by 634.71% year-on-year, totaling RMB 13,030,787.85[93] - The total amount of cash and cash equivalents at the end of the reporting period was RMB 232,225,660.78, representing 9.72% of total assets[95] - Sales expenses amounted to RMB 52,043,482.77, a decrease of 5.40% year-on-year, primarily due to reduced warranty costs[63] - Management expenses increased to RMB 87,822,707.53, up 5.67% year-on-year, attributed to higher business activity leading to increased hospitality, office, and professional service costs[64] - R&D expenses rose to RMB 99,668,577.85, an increase of 23.84% year-on-year, accounting for 7.19% of operating revenue, focusing on safety, intelligence, automation, energy-saving, and lightweight technologies[89] Sales and Market Performance - The company's main business revenue for 2022 reached approximately ¥1,328 million, an increase from ¥1,096 million in 2021[36] - Total revenue, including other business income, amounted to approximately ¥1,386 million in 2022, compared to ¥1,177 million in 2021[36] - The company's operating revenue is primarily derived from domestic sales, accounting for 91.43% of total revenue[59] - Domestic sales accounted for 91.43% of total revenue, with domestic revenue increasing by 25.63% year-on-year, while overseas revenue decreased by 29.67%[68] - The company sold 2,155,984 units of automotive parts, a year-on-year increase of 12.97%[68] - The sales volume of electric steering products significantly increased, with mass production achieved for steering columns and intermediate shafts[112] - In 2022, China's automobile production and sales reached 27.02 million and 26.86 million units, respectively, representing year-on-year growth of 3.40% and 2.10%[61] - The sales of new energy vehicles in 2022 were 7.058 million units, showing a significant year-on-year increase of 96.90%[61] Tax and Regulatory Benefits - The company benefited from a 100% exemption from property tax for the current period due to its status as a high-tech enterprise[27] - The effective corporate income tax rate for the company is reduced to 15% due to its high-tech enterprise certification[26] Employee and Operational Information - The company had 1,697 full-time employees as of December 31, 2022, across various functions including production, sales, technology, finance, and administration[113] - The company does not plan to distribute cash dividends or issue bonus shares for the 2022 fiscal year[56] - The company did not distribute cash dividends or issue bonus shares for the 2022 profit distribution plan, pending approval at the annual general meeting[101] Other Financial Metrics - The company reported a bad debt provision of ¥35.36 million, representing 7.28% of total accounts receivable as of December 31, 2022[30] - The company has a total of ¥153.16 million in short-term borrowings as of December 31, 2022, slightly up from ¥153.12 million in 2021[32] - Long-term borrowings increased to ¥43.82 million in 2022 from ¥18.79 million in 2021[34] - The company reported interest expenses of approximately ¥5.35 million in 2022, compared to ¥4.89 million in 2021[36] - The company’s inventory increased by 27.2% year-on-year to RMB 418,926,209.83, accounting for 17.53% of total assets[95] - The company experienced a decrease in non-current asset disposal gains, which were CNY 5,044,588.11 in 2022 compared to CNY 5,309,927.97 in 2021[40] - Investment income decreased by 70.78% year-on-year to RMB 1,798,850.81, primarily due to the absence of debt restructuring gains in the current period[90] - The company reported a significant increase in credit impairment losses, which rose by 1,172.48% year-on-year to RMB -1,589,469.25, attributed to increased accounts receivable due to expanded sales[90]

Financial Performance - In Q3 2022, the company's operating revenue was RMB 372,683,423.29, representing a year-on-year increase of 27.15%[8] - The net profit attributable to shareholders was RMB 5,445,106.84, a decrease of 31.54% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB -386,282.92, reflecting a decline of 124.57% year-on-year[8] - Total operating revenue for the first nine months of 2022 was RMB 926,736,014.87, an increase from RMB 866,107,941.76 in the same period of 2021, representing a growth of approximately 6.8%[27] - Net profit for the first nine months of 2022 was RMB 7,924,051.15, a significant decrease from RMB 38,783,554.40 in the same period of 2021[27] - Total comprehensive income for the period was RMB 7,924,051.15, a decrease from RMB 38,783,554.40 in the same period last year[31] - Comprehensive income attributable to the parent company was RMB 6,300,744.99, down from RMB 42,398,508.48 year-on-year[31] Assets and Liabilities - The total assets as of September 30, 2022, amounted to RMB 2,174,823,476.47, an increase of 4.79% from December 31, 2021[8] - The total assets as of September 30, 2022, amounted to RMB 2,174,823,476.47, up from RMB 2,075,458,857.18 at the end of 2021, reflecting an increase of approximately 4.0%[22] - Current assets totaled RMB 1,202,932,285.00 as of September 30, 2022, compared to RMB 1,100,647,643.42 at the end of 2021, marking an increase of about 9.3%[22] - The total liabilities as of September 30, 2022, were RMB 812,065,252.76, compared to RMB 720,624,684.62 at the end of 2021, representing an increase of about 12.7%[25] Cash Flow - Cash inflow from operating activities totaled RMB 653,373,088.68, an increase from RMB 601,699,357.19 in the same period last year[34] - Net cash flow from operating activities was RMB 75,132,699.54, slightly down from RMB 77,377,543.20 year-on-year[34] - Cash inflow from investment activities was RMB 190,688,191.84, compared to RMB 173,052,338.84 in the previous year[34] - Net cash flow from investment activities was negative at RMB -88,074,487.83, an improvement from RMB -95,826,331.31 year-on-year[34] - Cash inflow from financing activities was RMB 186,000,000.00, up from RMB 128,000,000.00 in the previous year[34] - Net cash flow from financing activities was negative at RMB -27,702,631.15, compared to a positive RMB 795,188.03 in the same period last year[34] - The ending cash and cash equivalents balance was RMB 101,563,740.85, down from RMB 126,784,449.01 year-on-year[34] Shareholder Information - The top shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 41.28% of the shares, indicating strong control over the company[16] Research and Development - Research and development investment in intelligent steering and drive-by-wire steering has shown an increasing trend[12] - Research and development expenses for the first nine months of 2022 were RMB 65,628,133.92, up from RMB 57,048,327.80 in the same period of 2021, reflecting an increase of about 15.5%[27] Operational Challenges - The company experienced a significant decline in net profit due to decreased sales of commercial vehicles and high raw material costs, leading to a shift in product sales structure[12] - The company reported a basic earnings per share of RMB 0.0069, down 31.89% from the previous year[8] - The weighted average return on net assets was 0.39%, a decrease of 0.19 percentage points compared to the previous year[8] - The company's cash and cash equivalents decreased to RMB 172,334,265.60 from RMB 195,849,881.10 year-over-year, a decline of approximately 12.0%[22] - The company's inventory increased to RMB 387,662,965.96 as of September 30, 2022, from RMB 329,151,211.94 at the end of 2021, indicating a growth of approximately 17.7%[22] - The company reported a decrease in interest income to RMB 687,132.72 from RMB 947,262.14 year-over-year, a decline of approximately 27.5%[27]

Financial Performance - Total revenue for the first half of 2022 was approximately CNY 554.05 million, a decrease of 3.31% compared to CNY 573.01 million in the same period of 2021[42] - Net profit attributable to shareholders of the listed company was CNY 855,638.15, down 97.52% from CNY 34.45 million in the previous year[42] - The net profit after deducting non-recurring gains and losses was a loss of CNY 14.08 million, a decline of 180.70% compared to a profit of CNY 17.44 million in 2021[42] - Net cash flow from operating activities was CNY 50.22 million, a decrease of 23.92% from CNY 66.00 million in the first half of 2021[42] - Basic and diluted earnings per share were both CNY 0.0011, down 97.48% from CNY 0.0436 in the previous year[42] - Operating profit for the first half of 2022 was RMB 622.01 thousand, a sharp decline from RMB 33.70 million in the same period of 2021[53] - The total comprehensive income for the first half of 2022 was RMB 1.25 million, compared to RMB 32.52 million in the same period of 2021[53] Assets and Liabilities - Total assets as of June 30, 2022, were approximately CNY 2.07 billion, a slight decrease of 0.06% from CNY 2.08 billion at the end of 2021[42] - Current assets totaled RMB 1,112,864,471.33, compared to RMB 1,100,647,643.42 at the end of 2021, reflecting a growth of approximately 1.98%[44] - Total liabilities decreased slightly to RMB 718,079,262.92 from RMB 720,624,684.62, a reduction of about 0.35%[46] - Non-current assets totaled RMB 961,298,363.42, down from RMB 974,811,213.76, representing a decrease of approximately 1.4%[44] Cash Flow - Operating cash flow for the first half of 2022 was RMB 50,216,520.98, a decrease of 24% compared to RMB 66,004,332.51 in the same period of 2021[60] - Total cash inflow from operating activities was RMB 403,520,677.84, down from RMB 418,507,361.51 year-on-year[60] - Cash flow from financing activities showed a net outflow of RMB 62,488,982.71, compared to a net inflow of RMB 4,359,556.00 in the same period last year[60] Equity and Profits - Net assets attributable to shareholders of the listed company increased by 0.06% to CNY 1.38 billion from CNY 1.38 billion at the end of 2021[42] - The company reported a total of RMB 269,197,741.99 in undistributed profits, up from RMB 268,342,103.84, indicating a growth of about 0.32%[46] - The company's undistributed profits increased to RMB 50,097,092.12 from RMB 44,959,740.08, marking an increase of about 11.5%[68] Research and Development - Research and development expenses rose to RMB 40.78 million, an increase of 9.0% from RMB 37.41 million in the first half of 2021[53] Accounting Policies - The company adheres to the accounting standards and policies that accurately reflect its financial status and operational results[79] - Financial assets are classified into three categories upon initial recognition: (1) measured at amortized cost; (2) measured at fair value with changes recognized in other comprehensive income; (3) measured at fair value with changes recognized in profit or loss[92] - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, measuring them at fair value upon initial recognition[93] Revenue Recognition - Revenue recognition principles require the company to assess contracts at the start date, identifying performance obligations and determining whether they are fulfilled over time or at a point in time[187] - The company recognizes revenue for sales of automotive steering gears and parts at a point in time when products are delivered and accepted by customers, with payment received or evidence of collection obtained[192] Government Grants - Government grants are recognized when the company can meet the conditions attached to the grants and is able to receive them, measured at the amount received or receivable[193] - Government grants related to income are recognized as deferred income to compensate for future costs or losses, and are recorded in the profit or loss when the related costs are recognized[197] Impairment and Valuation - Long-term assets are tested for impairment annually, with goodwill and indefinite-life intangible assets undergoing impairment tests regardless of indications[173] - The company reported a significant impairment loss on non-current assets held for sale, which was recognized in the current period's profit and loss statement[141]

Revenue and Profit - Revenue for Q1 2022 was RMB 260.63 million, a decrease of 11.23% compared to RMB 293.62 million in Q1 2021[8] - Net profit attributable to shareholders was a loss of RMB 4.03 million, down 119.85% from a profit of RMB 20.32 million in the same period last year[8] - The company reported total operating revenue of RMB 260,633,969.48 for the first quarter of 2022, down 11.2% from RMB 293,620,056.63 in the same period of 2021[25] - Operating profit for Q1 2022 was a loss of RMB 5,040,952.62, contrasting with a profit of RMB 20,697,946.93 in Q1 2021[25] - The net profit attributable to the parent company for Q1 2022 was a loss of RMB 4,032,392.53, compared to a profit of RMB 20,318,879.58 in Q1 2021[27] - Basic and diluted earnings per share for Q1 2022 were both -0.0051, a decline from 0.0257 in Q1 2021[27] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 72.54% to RMB 6.51 million, compared to RMB 23.71 million in Q1 2021[11] - Operating cash flow for Q1 2022 was RMB 6,511,908.60, a decrease of 72.5% compared to RMB 23,714,285.28 in Q1 2021[31] - Cash inflow from operating activities totaled RMB 185,606,864.38, down 6.4% from RMB 199,396,620.14 in the same period last year[31] - Total cash and cash equivalents at the end of Q1 2022 were RMB 117,193,602.52, down 23.9% from RMB 154,063,124.67 at the end of Q1 2021[31] - The company experienced a net decrease in cash and cash equivalents of RMB 25,419,655.31 in Q1 2022, contrasting with an increase of RMB 9,012,906.18 in Q1 2021[31] Assets and Liabilities - Total assets as of March 31, 2022, were RMB 2.10 billion, an increase of 1.20% from RMB 2.08 billion at the end of 2021[8] - Total liabilities as of March 31, 2022, were RMB 750,240,032.88, compared to RMB 720,624,684.62 as of December 31, 2021, indicating an increase of about 4.1%[23] - Total assets as of March 31, 2022, were RMB 2,100,430,539.23, up from RMB 2,075,458,857.18 as of December 31, 2021, reflecting an increase of approximately 1.2%[23] - As of March 31, 2022, total current assets amounted to RMB 1,137,091,558.60, an increase from RMB 1,100,647,643.42 as of December 31, 2021, representing a growth of approximately 3.3%[21] Shareholder Information - The top shareholder, Zhejiang Shibao Holding Group Co., Ltd., holds 43.28% of the shares, totaling 341,786,098 shares[15] Operational Performance - The gross profit margin declined due to poor performance in the automotive industry, particularly in commercial vehicle production and sales[11] - The decline in sales revenue was primarily due to increased procurement costs and reduced cash inflow from sales[11] - Research and development expenses for Q1 2022 were RMB 20,325,622.00, an increase from RMB 18,243,270.89 in Q1 2021, indicating a growth of approximately 11.4%[25] - The company’s inventory increased to RMB 348,892,554.22 as of March 31, 2022, compared to RMB 329,151,211.94 as of December 31, 2021, representing a rise of about 6.0%[21] Investment Activities - Cash outflow from investment activities was RMB 49,495,394.35, a significant decrease of 36.9% compared to RMB 78,300,204.08 in Q1 2021[31] - Cash received from investment recovery was RMB 20,000,000.00, down 60% from RMB 50,000,000.00 in Q1 2021, indicating reduced investment returns[31] - The net cash flow from investment activities was -RMB 20,510,295.03, worsening from -RMB 13,302,930.49 in the previous year[31] Other Information - The company has no other significant matters to report during the reporting period[18] - The company reported a significant increase in non-recurring losses, with a total of RMB 11.89 million attributed to non-recurring items[11] - The weighted average return on net assets was -0.29%, down from 1.50% in the previous year[8] - Cash outflow for purchasing goods and services was RMB 91,090,384.81, an increase of 21.5% from RMB 74,973,370.35 in Q1 2021[31] - Net cash flow from financing activities was -RMB 11,259,255.91, compared to -RMB 1,188,419.27 in Q1 2021, indicating increased financing pressure[31] - Cash inflow from financing activities increased to RMB 60,000,000.00 in Q1 2022, compared to RMB 15,000,000.00 in Q1 2021, reflecting a stronger borrowing position[31]