Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 5,418.1 million, a decrease of 2.2% compared to RMB 5,539.6 million in the same period of 2022[2] - Gross profit for the same period was RMB 1,027.3 million, down 11.4% from RMB 1,159.8 million, resulting in a gross margin of 19.0%, a decline of 1.9 percentage points[2] - EBITDA increased by 12.6% to RMB 811.9 million from RMB 721.1 million year-on-year[2] - Profit attributable to owners of the company rose by 16.5% to RMB 192.0 million, compared to RMB 164.8 million in the previous year[2] - Basic earnings per share increased to RMB 11.57, up 16.5% from RMB 9.93[5] - Total comprehensive income for the period was RMB 297.978 million, compared to RMB 256.424 million in the same period last year[5] Assets and Liabilities - Non-current assets as of June 30, 2023, amounted to RMB 8,823.175 million, a decrease from RMB 9,365.984 million as of December 31, 2022[6] - Current assets included inventory of RMB 1,184.971 million, slightly up from RMB 1,181.169 million[6] - Total liabilities increased to RMB 12,489.574 million from RMB 11,624.168 million at the end of 2022[7] - The company reported a net asset value of RMB 7,950.093 million as of June 30, 2023, compared to RMB 7,923.783 million at the end of 2022[7] Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2023, was RMB 1,324,360, an increase of 121.2% compared to RMB 599,619 for the same period in 2022[8] - Cash used in investing activities amounted to RMB (700,466), compared to RMB (601,621) in the previous year, reflecting a 16.4% increase in cash outflow[8] - New borrowings for the six months ended June 30, 2023, were RMB 3,314,417, a decrease of 22.2% from RMB 4,263,922 in the same period of 2022[8] - Cash and cash equivalents at the end of June 30, 2023, totaled RMB 1,165,193, slightly down from RMB 1,178,296 at the end of June 30, 2022[8] - The net increase in cash and cash equivalents for the six months ended June 30, 2023, was RMB 321,317, compared to RMB 457,460 in the same period of 2022, indicating a decrease of 29.7%[8] Revenue Breakdown - Revenue from truck tire steel cord was RMB 2,712,444,000, while passenger car tire steel cord revenue was RMB 408,980,000 for the six months ended June 30, 2023[16] - Revenue from external customers in China was RMB 3,591,968,000, representing an increase from RMB 3,578,773,000 in the same period of 2022[20] Tax and Interest - The effective tax expense for the six months ended June 30, 2023, was RMB 66,656,000, a decrease from RMB 82,228,000 in the same period of 2022[25] - Interest expenses for bank loans amounted to RMB 114,876,000 for the six months ended June 30, 2023, up from RMB 106,672,000 in 2022[23] Employee and Operational Metrics - The total employee costs for the first half of 2023 amounted to RMB 463,082,000, up from RMB 451,075,000 in the same period of 2022, reflecting a growth of about 2.3%[27] - The company's accounts receivable as of June 30, 2023, stood at RMB 3,508,525,000, an increase from RMB 3,194,017,000 as of December 31, 2022, indicating a rise of approximately 9.8%[30] - The average credit period allowed to trade customers is 120 days, with accounts receivable aging analysis showing RMB 2,499,547,000 within 0 to 90 days as of June 30, 2023, compared to RMB 2,218,549,000 for the same period in 2022[30] Dividends and Governance - The company declared a final dividend of HKD 0.15 per share, totaling RMB 222,752,000, which was approved at the annual general meeting held on June 8, 2023[28] - The board of directors has proposed not to declare an interim dividend for the six months ending June 30, 2023[67] - The company has maintained high standards of corporate governance, including transparency, accountability, and independence[67] Market Outlook - The company anticipates continued growth in the radial tire market, supported by the government's logistics development plans and increasing vehicle ownership[36] - The overall automotive market in China has not fully recovered compared to pre-pandemic levels, but the new energy vehicle sector continues to grow rapidly[66] - The company plans to closely monitor national policies and global economic developments, adjusting strategies as needed to ensure stable growth in production and sales for the year[66]

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佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈全部或任何部分內容 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。 於二零二二年 於二零二二年十 XINGDA INTERNATIONAL HOLDINGS LIMITED 1899 有關二零二二年年報之補充公佈 茲提述於二零二三年四月二十七日刊發之興達國際控股有限公司（「本公司」）截至二零二 二年十二月三十一日止年度之年度報告（「二零二二年年報」）。除非另有界定，否則本公 佈所用詞彙與二零二二年年報內所界定者具有相同涵義。 除二零二二年年報第41至44頁「股份獎勵計劃」一節所披露者外，董事會謹此就二零二二 年年報第44頁之表格提供以下補充資料（修訂以下劃線顯示）： 下表載列該計劃項下授予各參與者的股份獎勵及參與者類別詳情： 一月一日的 二月三十一日的 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------|-----------------------------|--- ...

Financial Performance - The company's revenue for 2022 increased by 1.6% to RMB 10,812.0 million compared to RMB 10,645.3 million in 2021[7]. - Gross profit rose by 10.1% to RMB 2,273.5 million, with a gross margin improvement to 21.0% from 19.4%[7][11]. - EBITDA increased by 27.6% to RMB 1,521.6 million, reflecting strong operational performance[7]. - Net profit attributable to shareholders surged by 81.8% to RMB 558.2 million, with basic earnings per share rising to RMB 20.99 from RMB 13.46[7][11]. - Total assets grew by 6.1% to RMB 21,010.0 million, while total liabilities increased by 7.3% to RMB 13,086.2 million[7]. - The revenue for 2022 increased by 1.6% year-on-year to RMB 10,812 million, primarily due to higher average selling prices and increased sales volume in overseas markets[25]. - The gross profit rose by RMB 208.6 million or 10.1% to RMB 2,273.5 million, with a gross margin increase of 1.6 percentage points to 21.0%[26]. - Net profit increased by RMB 251,200,000 or 81.8% to RMB 558,200,000 in 2022, compared to RMB 307,000,000 in 2021[38]. Market Dynamics - The export revenue of radial tire steel cord maintained growth despite a slowdown in overseas demand in the latter half of the year[12]. - The automotive market showed signs of recovery in the second half of 2022, positively impacting related demand[12]. - The domestic market accounted for 68.9% of radial tire steel cord sales, while the overseas market accounted for 31.1%, showing a shift in demand dynamics[22]. - The total sales volume of the group was 1,054,700 tons, a decrease of 2.1% year-on-year, with sales of radial tire steel cord down 1.9% to 834,800 tons, accounting for 79.2% of total sales[18]. - The sales volume of truck radial tire steel cord decreased by 6.8% to 470,300 tons, while sales of passenger car radial tire steel cord increased by 5.1% to 364,500 tons[19]. Operational Efficiency - The production capacity of radial tire steel cord increased by 3.2% to 972,100 tons, with an overall plant utilization rate of 84.7%[22]. - The group aims to expand its overseas market presence and enhance production capacity to align with economic recovery trends[17]. - The average cost of major raw materials decreased in 2022, contributing to the improved gross margin[26]. Corporate Governance - The company has maintained high standards of corporate governance, ensuring transparency, accountability, and independence throughout the fiscal year ending December 31, 2022[81]. - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a diverse range of expertise and experience[84]. - The company has established an audit committee, a remuneration and management development committee, and a nomination committee to comply with corporate governance codes[81]. - The independent non-executive directors have confirmed their independence in accordance with listing rules, ensuring the board's integrity[84]. - The company has a structured approach to training and continuous professional development for its directors and company secretary, adhering to corporate governance standards[82]. Risk Management - The risk management and internal control system was evaluated by the audit committee and board, confirming no significant deficiencies were found for the fiscal year ending December 31, 2022[152]. - The company has engaged an independent professional internal control consultant to assist in evaluating and improving the internal control system[143]. - The risk management policy includes strategic, financial, operational, and compliance controls, with assessments conducted at least annually[142]. - The company aims to provide reasonable assurance regarding the absence of material misstatements and losses through its risk management and internal control systems[150]. Employee Relations - The total employee cost, including directors' remuneration, was approximately RMB 905.8 million for the year ended December 31, 2022, slightly down from RMB 909 million in 2021[57]. - The group employed about 7,400 full-time employees as of December 31, 2022, a decrease from approximately 7,800 employees a year earlier[57]. - Contributions to the Xingda Union amounted to RMB 20.3 million for the year ended December 31, 2022, compared to RMB 14.9 million in 2021[57]. Future Outlook - The Chinese government has emphasized the importance of stabilizing growth, employment, and prices in 2023, which is expected to positively impact the industry[64]. - The total sales of new energy vehicles in China are projected to reach 9 million units in 2023, representing a 35% year-on-year growth, which will benefit the radial tire steel cord market[64]. - The company plans to leverage its position as an industry leader to drive new developments in 2023, better meeting consumer and market demands[65]. Shareholder Engagement - The company has conducted multiple one-on-one meetings with institutional investors and shareholders to enhance communication and understanding of the group's performance[158]. - The company allows shareholders to propose suggestions for discussion at the annual general meeting following specific procedures[135]. - The company has adopted a dividend policy to provide stable and sustainable returns to shareholders, considering various factors before declaring dividends[170].

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 10,812.0 million, an increase of 1.6% from RMB 10,645.3 million in 2021[2] - Gross profit margin improved to 21.0%, up by 1.6 percentage points from 19.4% in the previous year[2] - EBITDA increased by 27.6% to RMB 1,521.6 million, compared to RMB 1,192.8 million in 2021[2] - Net profit attributable to shareholders rose by 59.2% to RMB 348.4 million, up from RMB 218.9 million in the prior year[2] - Basic earnings per share increased by 55.9% to RMB 20.99, compared to RMB 13.46 in 2021[5] - Total comprehensive income for the year was RMB 577.4 million, significantly higher than RMB 222.2 million in 2021[4] - Revenue for 2022 increased by 1.6% to RMB 10,812 million, primarily due to higher average selling prices and increased sales volume in overseas markets[39] - Gross profit rose by RMB 208.6 million or 10.1% to RMB 2,273.5 million, with a gross margin increase of 1.6 percentage points to 21.0%[40] - The group's net profit for the year ended December 31, 2022, increased by RMB 251,200,000 or 81.8% to RMB 558,200,000 compared to RMB 307,000,000 in 2021[50] Assets and Liabilities - Non-current assets increased to RMB 9,365.0 million from RMB 7,480.7 million year-on-year[6] - Current liabilities decreased to RMB 11,624.2 million from RMB 11,154.7 million in the previous year[6] - As of December 31, 2022, total equity amounted to RMB 7,923,783, an increase from RMB 7,610,638 in the previous year, representing a growth of approximately 4.1%[7] - The total amount of capital and reserves as of December 31, 2022, was RMB 5,864,514, compared to RMB 5,699,850 in the previous year, showing an increase of approximately 2.9%[7] - The group's current assets decreased by RMB 677,500,000 or 5.5% to RMB 11,644,000,000 as of December 31, 2022, while current liabilities increased by RMB 469,500,000 or 4.2% to RMB 11,624,200,000[52] - The group's asset-liability ratio was 32.8% as of December 31, 2022, compared to 28.0% in 2021[52] Sales and Market Performance - Revenue from sales of radial tire steel cord reached RMB 10,812,028 for the year ended December 31, 2022, compared to RMB 10,645,310 in 2021, indicating a year-over-year increase of about 1.6%[15] - Sales of truck radial tire steel cord decreased to RMB 5,209,375 in 2022 from RMB 5,494,653 in 2021, reflecting a decline of approximately 5.2%[15] - Sales of passenger car radial tire steel cord increased significantly to RMB 4,056,017 in 2022, up from RMB 3,524,852 in 2021, marking a growth of around 15.1%[15] - The sales volume of radial tire steel cord in the domestic market decreased by 5.2% to 575,300 tons, while overseas sales volume increased by approximately 6.2% to 259,500 tons[38] - Total sales volume for the year 2022 was 1,054,700 tons, a decrease of 2.1% year-on-year[35] - The sales volume of truck radial tire steel cord decreased by 6.8% to 470,300 tons, while the sales volume of passenger car radial tire steel cord increased by 5.1% to 364,500 tons[36] Research and Development - Research and development expenses rose to RMB 169.2 million, up from RMB 138.8 million in 2021, indicating a focus on innovation[4] - R&D expenses increased by RMB 30.4 million or 21.9% to RMB 169.2 million, reflecting more new product development projects[47] - The group plans to focus on product quality improvement and R&D innovation to enhance product competitiveness and seize market expansion opportunities[63] Dividends and Shareholder Information - The company maintained a final dividend of HKD 15.0 per share, unchanged from the previous year[2] - The total dividend declared for the year ended December 31, 2022, was RMB 222,752,000, compared to RMB 203,882,000 in 2021, marking an increase of about 9.2%[27] - The board proposed a final dividend of HKD 0.15 per share (approximately RMB 0.134) for the year ended December 31, 2022, subject to shareholder approval[64] - The group will hold its annual general meeting on June 8, 2023, to seek approval for the proposed final dividend[65] Operational Insights - The company operates as a single reportable segment, focusing on the production and sale of radial tire steel cord and other steel wires, with no separate financial data available for individual product performance[18] - The average credit period allowed to trade customers is 120 days, indicating a stable credit policy[30] - Accounts receivable as of February 31, 2022, amounted to RMB 8,147,717, a slight decrease from RMB 8,173,246 in the previous year[31] - The company’s accounts payable as of February 31, 2022, totaled RMB 5,285,936, down from RMB 5,777,411 in the previous year, reflecting improved cash flow management[32] Economic Context - In 2022, China's tire production decreased by approximately 6.7% to about 667 million units, with a notable decline in truck tires by 11.4%[34] - The domestic GDP growth for China in 2022 was recorded at 3.0%, amounting to approximately RMB 121 trillion, which is better than market expectations[34] - The number of vehicles in China increased by 5.6% year-on-year to 320 million, supporting long-term demand in the domestic tire replacement market[34] Corporate Governance - The audit committee reviewed the group's accounting principles and practices, and the consolidated financial statements for the year ended December 31, 2022, were approved by the board on March 31, 2023[70] - The consolidated financial statements for the year ended December 31, 2022, were audited by Deloitte, which issued an unqualified opinion[71] - The company has established an audit committee, remuneration and management development committee, and nomination committee to comply with corporate governance code provisions[68] - The board proposed the appointment of Mr. Luo Tiejun as an independent non-executive director, subject to shareholder approval at the upcoming annual general meeting[72] Employee and Labor Relations - As of December 31, 2022, the group employed approximately 7,400 full-time employees, a decrease from about 7,800 employees as of December 31, 2021[60] - Employee costs, including directors' remuneration, amounted to RMB 905.8 million for the year ended December 31, 2022, compared to RMB 909 million in the previous year[60] - The group contributed RMB 20.3 million to the labor union for employee benefits, an increase from RMB 14.9 million in the previous year[60] Strategic Outlook - The company anticipates that total sales of new energy vehicles in China will reach 9 million units in 2023, representing a year-on-year growth of 35%[63] - The group remains cautiously optimistic about the development of the radial tire steel cord industry amid a recovering economy and increasing domestic demand[63] - The group will continue to leverage its position as an industry leader to meet consumer and market demands effectively in 2023[63]

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 5,539.6 million, an increase of 5.0% compared to RMB 5,275.2 million in the same period last year[8]. - Gross profit rose by 8.2% to RMB 1,159.8 million, with a gross margin of 20.9%, up from 20.3% year-on-year[8]. - The company's profit attributable to owners decreased by 23.0% to RMB 164.8 million, with basic earnings per share of RMB 9.93, down 25.7% from RMB 13.37[8]. - The group's net profit for the six months ended June 30, 2022, decreased by RMB 40,700,000 or 13.6% to RMB 258,500,000 compared to RMB 299,200,000 in the same period of 2021[37]. - The company reported a basic earnings per share of RMB 9.93 for the six months ended June 30, 2022, down from RMB 13.37 in the same period of 2021[100]. - The net profit for the six months ended June 30, 2022, was RMB 258,505 thousand, a decrease of 14% from RMB 299,205 thousand in the previous year[100]. Sales and Production - The company experienced a total sales volume decline of 4.8% to 527,400 tons, with sales of radial tire steel cord down 6.0% to 413,000 tons, accounting for 78.3% of total sales[15]. - The domestic production of radial tires in China decreased by 8.6% to approximately 22.3 million units in the first half of 2022[13]. - The sales volume of truck radial tire steel cord decreased by 9.6% year-on-year to 241,100 tons, primarily due to the impact of the pandemic on China's economy and logistics activities[16]. - Revenue from sales of radial tire steel cord for truck use was RMB 2,752,236,000, a decrease of 2.3% from RMB 2,817,554,000 in the prior year[120]. - Revenue from sales of radial tire steel cord for passenger cars increased by 17.7% to RMB 1,948,748,000 from RMB 1,655,959,000[120]. Assets and Liabilities - Total assets increased by 7.2% to RMB 21,224.2 million, while total liabilities rose by 11.8% to RMB 13,634.2 million[8]. - Current assets increased by RMB 327,300,000 or 2.7% to RMB 12,648,800,000 as of June 30, 2022, while current liabilities rose by RMB 482,300,000 or 4.3% to RMB 11,637,000,000[40]. - The group's borrowings increased by RMB 506,200,000 or 9.1% to RMB 6,055,700,000 as of June 30, 2022, compared to RMB 5,549,500,000 on December 31, 2021[39]. - The group's debt-to-asset ratio was 28.5% as of June 30, 2022, compared to 28.0% on December 31, 2021[40]. Cash Flow and Investments - The net cash generated from operating activities was RMB 599,619,000, a significant improvement from a cash outflow of RMB 230,152,000 in the previous year[111]. - The net cash used in investing activities was RMB 601,621,000, a slight improvement from RMB 629,336,000 in the previous year[111]. - The group invested approximately RMB 847,432,000 in building production facilities in Thailand and China, an increase from RMB 591,950,000 in the same period last year, to enhance production capacity in China[148]. Expenses and Costs - Distribution and selling expenses rose by RMB 132.3 million or 33.0% to RMB 533.4 million, mainly due to increased export volumes and transportation costs[29]. - Research and development expenses increased by RMB 35.9 million or 63.5% to RMB 92.4 million, reflecting more investment in new product development[33]. - Employee costs, including directors' remuneration, amounted to RMB 451,100,000 for the first half of 2022, compared to RMB 423,900,000 in the same period of 2021, reflecting a year-on-year increase of approximately 6.5%[53]. Shareholder Information - As of June 30, 2022, the major shareholder Hang Youming held 758,132,457 shares, representing 45.60% of the company's issued share capital[70]. - The total number of shares held by the directors and major executives reflects significant ownership concentration within the company[15]. - The company has adopted a share incentive plan to retain outstanding employees and align their interests with those of shareholders[55]. Future Outlook - The company anticipates a recovery in the economy and tire production following the easing of pandemic-related restrictions in June 2022[12]. - The company is positioned to benefit from the long-term growth of the radial tire replacement market, supported by an increasing number of vehicles in China, which reached 310 million by June 2022[13]. - The company plans to enhance product quality and develop more diversified high-end products to contribute to the transformation and high-quality development of the rubber industry during the 14th Five-Year Plan period[61].

Financial Performance - Revenue for the year reached RMB 10,645.3 million, an increase of 38.6% compared to RMB 7,679.9 million in the previous year[5] - Gross profit was RMB 2,064.9 million, reflecting a growth of 35.1% from RMB 1,528.5 million[5] - EBITDA increased by 21.6% to RMB 1,192.8 million, up from RMB 980.5 million[5] - Net profit for the year was RMB 307.0 million, a significant rise of 75.0% from RMB 175.4 million[5] - Profit attributable to owners of the company surged by 90.3% to RMB 218.9 million, compared to RMB 115.0 million in the prior year[5] - Basic earnings per share increased by 82.1% to RMB 13.46, while diluted earnings per share rose by 81.9% to RMB 13.37[5] Assets and Liabilities - Total assets grew by 26.2% to RMB 19,802.2 million, up from RMB 15,694.8 million[5] - Total liabilities increased by 50.2% to RMB 12,191.6 million, compared to RMB 8,115.8 million[5] - The debt-to-equity ratio rose to 84.9%, compared to 47.4% in the prior year[5] - The company's debt-to-asset ratio was 28.0% as of December 31, 2021, compared to 22.9% in the previous year[26] Sales and Production - Total sales volume for the company reached 1,077,600 tons, a 22.1% increase year-on-year, with sales of radial tire steel cord rising by 20.4% to 851,400 tons[9][10] - The sales volume of truck radial tire steel cord increased by 15.5% to 504,600 tons, while passenger car radial tire steel cord sales rose by 28.3% to 346,800 tons[10] - The overall annual production capacity for radial tire steel cord increased by 18.0% to 942,000 tons, with Jiangsu and Shandong plants increasing capacity by 14.4% and 29.7%, respectively[11] Market and Economic Context - The Chinese economy grew by 8.1% in 2021, supporting the domestic tire replacement market demand, with the number of vehicles in China increasing by approximately 7.5% to 302 million[8] - In 2021, the sales volume of radial tire steel cord in China increased by 9.7% to 607,000 tons, driven by strong demand, despite a slight decline in the second half due to GDP growth slowdown and power restrictions[11] - The overseas market saw a significant increase of approximately 58.8% in sales volume to 244,400 tons, as tire manufacturers resumed normal production levels after temporary shutdowns in 2020[11] Research and Development - Research and development expenses rose by RMB 30.3 million or 27.9% to RMB 138.8 million, reflecting the company's commitment to enhancing production technology and product diversity[21] - The company has a strong focus on research and development in new technologies related to tire manufacturing[37] Corporate Governance - The company is committed to maintaining high standards of corporate governance, including transparency and accountability[83] - The board of directors consists of seven members, including four executive directors and three independent non-executive directors[85] - The audit committee, remuneration and management development committee, and nomination committee have been established to comply with corporate governance codes[83] Employee Relations - The group employed approximately 7,800 full-time employees, an increase from about 7,100 employees as of December 31, 2020[34] - Employee costs, including directors' remuneration, amounted to RMB 909 million for the year ended December 31, 2021, down from RMB 1,048.7 million in 2020[34] - The group contributed RMB 14.9 million to the labor union for employee benefits, compared to RMB 13.2 million in 2020[34] Environmental Commitment - The company reported that 30% of its sales came from green products and solutions, highlighting its commitment to sustainable development[132] - The company aims to enhance its environmental performance through continuous monitoring and compliance with national standards[150] - The company has committed to four environmental protection pledges, including compliance with environmental laws and continuous improvement of environmental management systems[176] Climate Change Initiatives - The company aims to achieve a clean energy usage ratio of 30% by 2025 and full carbon neutrality by 2050[193] - The company has implemented energy-saving projects, including upgrading to high-efficiency synchronous permanent magnet motors and replacing lighting with energy-efficient LED systems[191] - The company is actively developing low-carbon skeleton materials to improve energy efficiency and reduce climate impact[190] Future Outlook - The group anticipates a cautious optimism for the industry outlook in 2022, despite challenges such as automotive chip shortages and rising raw material costs[36] - The group plans to invest resources to increase production capacity and improve product quality, focusing on high-end product development[36]

XINGDA 半 达 XINGDA INTERNATIONAL HOLDINGS LIMITED 興 達 國 際 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號：1899) 2020 年度報告 | --- | --- | |-------|--------------------------------| | | | | | | | | | | | 目 錄 | | | | | | 公司資料 | | | 財務摘要 | | | 主席報告書 | | | 管理層討論及分析 | | | 董事及高級管理層履歷 | | | 董事會報告 | | | 企業管治報告 | | | 二零二零年環境、社會及管治報告 | | | 獨立核數師報告 | | | 綜合損益及其他全面收入表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | | 財務概要 | 頁次 2 3 4 6 17 20 37 54 93 98 99 101 104 106 203 1 興達國際控股有限公司 公司資料 顧福身先生（主席） 香港主要營業地點 William John S ...