Financial Performance - The company's operating revenue for Q1 2023 was CNY 957,116,101.98, representing a year-on-year increase of 7.41%[6] - The net profit attributable to shareholders for Q1 2023 was CNY 26,679,244.57, a significant increase of 563.41% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 25,923,724.50, reflecting a year-on-year increase of 736.84%[6] - The basic earnings per share for Q1 2023 was CNY 0.0785, which is a 563.41% increase year-on-year[6] - The diluted earnings per share for Q1 2023 was also CNY 0.0785, showing a 563.41% increase compared to the previous year[11] - The weighted average return on equity for Q1 2023 was 2.52%, an increase of 542.22% from the previous year[7] - The net profit for Q1 2023 reached CNY 54,132,052.10, a significant increase from CNY 9,546,181.15 in Q1 2022, representing a growth of 467.5%[22] - The total profit for Q1 2023 was CNY 72,837,012.73, up from CNY 13,233,199.42 in Q1 2022[21] - The company reported a significant increase in profit attributable to shareholders, reaching CNY 26,679,244.57, compared to CNY 4,021,536.84 in Q1 2022[22] Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 3,705,936,747.02, which is a 7.71% increase from the end of the previous year[7] - The equity attributable to shareholders at the end of Q1 2023 was CNY 1,073,263,325.54, reflecting a 2.55% increase from the end of the previous year[7] - Total current assets reached RMB 2,662,223,224.12, compared to RMB 2,395,000,047.13 at the end of 2022, indicating an increase of 11.1%[16] - Total liabilities increased to RMB 1,831,136,911.09 from RMB 1,620,131,369.36, which is an increase of 13.0%[18] - The company's equity attributable to shareholders rose to RMB 1,073,263,325.54 from RMB 1,046,584,080.97, reflecting an increase of 2.5%[18] Cash Flow - The net cash flow from operating activities for Q1 2023 was CNY 112,242,862.15, showing a decrease of 3.83% year-on-year[6] - The cash flow from operating activities was CNY 112,242,862.15, a decrease from CNY 116,711,069.56 in the same period last year[25] - The company achieved a total cash inflow from operating activities of CNY 673,300,323.44, compared to CNY 741,558,366.95 in the previous year[25] - The net cash flow from investment activities was -29,515,542.42, compared to -27,083,206.79 in the previous year, indicating a decline of approximately 9%[27] - Cash flow from financing activities resulted in a net outflow of -6,714,238.85, down from -7,951,747.78, reflecting a decrease of about 16%[27] - The total cash and cash equivalents at the end of the period amounted to 326,516,933.26, compared to 360,604,736.18 in the previous year, representing a decrease of approximately 9%[27] - The net increase in cash and cash equivalents for the quarter was 74,161,719.35, compared to 81,421,085.46 in the same quarter last year, showing a decline of about 9%[27] Operational Metrics - The total operating costs amounted to CNY 883,602,447.47, slightly up from CNY 881,254,957.95 in the previous year[21] - The company incurred sales expenses of CNY 15,697,517.94, an increase from CNY 11,201,664.62 in the previous year[21] - Research and development expenses were CNY 6,352,798.65, slightly down from CNY 6,631,410.71 in Q1 2022[21] Other Information - The company has not indicated any new product launches or significant market expansion strategies during this reporting period[15] - The company reported non-recurring gains of CNY 755,520.07 for the period, after accounting for tax effects[9] - The company did not apply new accounting standards or interpretations for the current year[27]

Financial Performance - The company's operating revenue for Q3 2022 was CNY 920,830,064, representing an increase of 8.59% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was CNY 7,007,508, a decrease of 42.57% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,633,353, down 54.45% from the previous year[7]. - The basic earnings per share for Q3 2022 was CNY 0.02, a decrease of 42.57% compared to the same period last year[7]. - Year-to-date net profit attributable to shareholders decreased by 40.95%, again driven by increased material costs[12]. - Year-to-date net profit after deducting non-recurring gains and losses dropped by 49.31%, consistent with the trends observed[12]. - Total comprehensive income for the third quarter of 2022 was CNY 41,120,235.65, compared to CNY 66,209,914.05 in the same period last year, reflecting a decrease of approximately 38%[24]. - Basic and diluted earnings per share for the third quarter were CNY 0.05, down from CNY 0.09 year-over-year, indicating a decline of about 44%[24]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,490,594,755.94, an increase of 4.51% from the end of the previous year[7]. - Total liabilities increased to ¥1,705,853,516.42 in the third quarter of 2022, up from ¥1,584,569,168.70 in the same period of 2021, marking a rise of 7.0%[20]. - The total equity attributable to shareholders of the parent company was ¥1,030,459,308.08, slightly up from ¥1,024,061,401.24 in the previous year[20]. Cash Flow - The cash flow from operating activities was not applicable for the current period, with a decrease of 24.62% compared to the previous year[7]. - Cash flow from operating activities for the first three quarters of 2022 was CNY 115,695,023.70, a decrease of approximately 25% from CNY 153,473,742.16 in the same period of 2021[27]. - Cash inflow from operating activities totaled CNY 1,896,628,611.88, compared to CNY 1,848,954,765.42 in the previous year, showing a slight increase of about 2.6%[27]. - Cash outflow from operating activities was CNY 1,780,933,588.18, up from CNY 1,695,481,023.26, representing an increase of approximately 5%[27]. - The company reported a cash and cash equivalents balance of CNY 280,775,849.18 at the end of the period, compared to CNY 205,783,217.77 at the end of the previous year[28]. Costs and Expenses - Total operating costs for the first three quarters of 2022 were ¥2,565,609,420.06, up from ¥2,340,382,226.23 in 2021, reflecting an increase of 9.63%[22]. - The adjustment in sales expenses due to the new revenue recognition standard resulted in a decrease of CNY 70,694,752.73, with adjusted sales expenses for the current period at CNY 29,496,216.64[25]. - The company executed a new revenue recognition standard, leading to adjustments in operating costs from CNY 2,051,979,902.12 to CNY 2,122,674,654.85, an increase of CNY 70,694,752.73[24]. - Research and development expenses for the first three quarters of 2022 were ¥21,044,533.72, an increase from ¥18,689,429.88 in the same period of 2021, reflecting a growth of 7.25%[22]. - The company reported a decrease in financial expenses, which were ¥15,408,247.69 in 2022 compared to ¥30,268,493.77 in 2021, a reduction of 48.9%[22]. Shareholder Information - The company reported a total of 20,860 common shareholders at the end of the reporting period[14]. - The largest shareholder, Giti Tire (China) Investment Co., Ltd., holds 151,070,000 shares, representing 44.43% of total shares[14]. Other Information - The company has implemented adjustments to its accounting standards affecting the classification of certain costs since January 1, 2021[8]. - The company has been actively working to reduce related party transactions, transitioning domestic and international procurement to direct sourcing[16]. - As of September 30, 2022, cash and cash equivalents amounted to approximately 322.87 million RMB, a slight decrease from the previous year[17]. - Accounts receivable increased to approximately 1.39 billion RMB, up from approximately 1.30 billion RMB at the end of 2021[17]. - The company's inventory as of the third quarter of 2022 was ¥533,891,123.27, showing a marginal decrease from ¥533,895,896.59 in the previous quarter[21]. - The company reported a total of CNY 31,739.61 in losses from the disposal of non-current assets for the current period[10]. - Non-recurring gains and losses for the current period included government subsidies amounting to CNY 3,990,859.88[10].

Financial Performance - The company's basic earnings per share decreased by 39.86% to CNY 0.0332 compared to the same period last year[20]. - The net profit attributable to shareholders fell by 39.89% to CNY 11,290,398.65, while the net profit after deducting non-recurring gains and losses decreased by 45.29% to CNY 8,666,209.01[20]. - Operating revenue increased by 7.00% to CNY 1,685,558,706.85 compared to the same period last year[20]. - The weighted average return on equity decreased by 0.75 percentage points to 1.10%[20]. - The total assets of the company increased by 6.00% to CNY 3,540,574,135.17 compared to the end of the previous year[20]. - The net cash flow from operating activities decreased by 10.55% to CNY 122,440,473.92[20]. - The gross profit decreased to 137 million RMB, down 28.81% year-on-year, while net profit attributable to shareholders was 11 million RMB, a decline of 39.89%[30]. - The company reported a total profit of RMB 29,378,657.81 for the first half of 2022, down from RMB 51,873,615.58 in the first half of 2021, indicating a decline of 43.3%[111]. - The total comprehensive income for the first half of 2022 was RMB 25,534,988.87, down from RMB 40,889,759.64 in the first half of 2021, reflecting a decrease of 37.5%[112]. Related Party Transactions - The company reported a significant risk due to the failure to pass related party transactions for 2020, 2021, and 2022, which could impact operations[7]. - The company has not completed the share reform, which poses potential policy risks[9]. - The company faced challenges in shareholder communication regarding the approval of related party transactions, which has been a recurring issue[7]. - The company committed to reducing daily related transactions and has shifted procurement practices to minimize reliance on related parties[76]. - The company did not approve the 2020 and 2021 annual related party transaction plans during the meetings[53]. - The total amount of related party transactions for 2020 was 46.56 billion RMB, while the actual amount was 37.71 billion RMB[81]. - In 2021, the projected total related party transactions were 44.66 billion RMB, with the actual amount being 47.76 billion RMB[81]. - For the first half of 2022, the actual procurement transactions were 1.96 billion RMB, with a projection of 6 billion RMB[80]. Market and Operational Challenges - The company faced challenges in the domestic market due to logistics disruptions and weak market demand, while overseas market demand remained strong[26]. - The company plans to adjust its marketing strategy to increase domestic sales and expand tire exports in response to the complex external environment[30]. - The company aims to enhance product competitiveness and operational efficiency to mitigate industry competition and external risks[48]. - The company has established stable partnerships with well-known automobile manufacturers, enhancing its market presence[27]. Environmental Responsibility - The company was recognized as a national "Green Factory," highlighting its leadership in green manufacturing practices[29]. - The company has implemented pollution control measures, including a new waste discharge permit obtained on April 29, 2022, after completing coal-fired boiler emissions upgrades[57]. - The company operates two 65-ton coal-fired boilers, which treat emissions through a combination of SNCR+SCR and bag dust collectors[57]. - The actual concentration of sulfur dioxide emissions was 6.40 mg/m3, well below the standard of 35 mg/m3[59]. - The company reported a nitrogen oxide emission concentration of 23.06 mg/m3, exceeding the standard of 50 mg/m3[59]. - The company has established a monitoring system for emissions, including sulfur dioxide, dust, and nitrogen oxides[57]. - The company generated 7,638,405 kWh of solar power in the first half of 2022, resulting in a reduction of approximately 5,373.6 tons of carbon emissions[70]. - The company has actively pursued environmental responsibility by purchasing environmental pollution liability insurance and promoting photovoltaic projects[69]. Financial Position and Assets - The total current assets increased to CNY 2,534,890,958.61 from CNY 2,323,937,988.79, reflecting a growth of approximately 9.0%[102]. - Cash and cash equivalents rose to CNY 378,464,026.40, up from CNY 325,596,196.40, indicating an increase of about 16.2%[102]. - Accounts receivable increased by 254% to 195,427,901.55 RMB, representing 5.52% of total assets[39]. - Prepayments rose by 49.30% to 46,024,340.34 RMB, accounting for 1.30% of total assets[39]. - Total liabilities increased, with notes payable rising by 72.43% to 490,524,385.75 RMB, making up 13.86% of total assets[39]. - The company reported a significant increase in cash received from tax refunds, totaling CNY 64,407,249.63, compared to CNY 36,890,040.13 in the previous year[117]. Governance and Management - The company appointed a new independent director, Zhong Qingquan, on March 9, 2022, following the resignation of Ren Ying[54]. - The company held its 2021 Annual General Meeting on May 27, 2022, where the 2021 financial report was approved[53]. - The company has committed to implementing corrective measures and has communicated these to its board and management[78]. - The management team is focused on improving quality and efficiency while reducing costs to strengthen the company's competitive position[30]. Research and Development - R&D expenses increased by 14.63% to 13.32 million RMB, indicating a commitment to innovation and product development[34]. - The company has developed new products including various types of tires for light rail vehicles and engineering vehicles, enhancing its product line and core competitiveness[28]. - Research and development expenses increased to RMB 13,320,076.40 in the first half of 2022, compared to RMB 11,619,931.65 in the first half of 2021, marking a rise of 14.6%[110]. Regulatory Compliance - The company has faced regulatory scrutiny from the China Securities Regulatory Commission, which issued a corrective measure in January 2022[78]. - The company reported a significant risk due to the failure to pass related party transactions for 2020, 2021, and 2022, which could impact operations[7]. - The stock was placed under delisting risk warning due to the issuance of an audit report with a disclaimer of opinion for the 2021 financial statements[32].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 891,122,833, representing a 13.88% increase compared to CNY 782,477,279.54 in the same period last year[6]. - Net profit attributable to shareholders decreased by 70.22% to CNY 4,021,536.84 from CNY 13,502,640.67 year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 76.11% to CNY 3,097,808.56 compared to CNY 12,968,476.60 in the previous year[6]. - Basic and diluted earnings per share decreased by 70.22% to CNY 0.0118 from CNY 0.0397 year-on-year[7]. - Total profit for Q1 2022 was RMB 13,233,199.42, a decrease of 65.6% from RMB 38,547,268.85 in Q1 2021[22]. - Net profit for Q1 2022 was RMB 9,546,181.15, a decrease of 66.4% from RMB 28,443,548.80 in Q1 2021[22]. Cash Flow and Assets - The net cash flow from operating activities increased by 47.84% to CNY 116,711,069.56 from CNY 78,945,713.29 in the same period last year[7]. - Cash flow from operating activities for Q1 2022 was RMB 116,711,069.56, an increase of 47.8% compared to RMB 78,945,713.29 in Q1 2021[26]. - Cash inflow from sales of goods and services in Q1 2022 was RMB 720,427,333.78, slightly up from RMB 711,929,934.53 in Q1 2021[25]. - Cash outflow for purchasing goods and services in Q1 2022 was RMB 451,235,917.35, down from RMB 491,857,470.66 in Q1 2021[26]. - The net cash flow from financing activities was -$7,951,747.78, compared to -$11,087,448.59 in the previous period, indicating an improvement[27]. - The net increase in cash and cash equivalents for the period was $81,421,085.46, up from $43,506,976.61 in the prior period[27]. - The ending balance of cash and cash equivalents was $360,604,736.18, slightly down from $369,040,863.46 at the end of the previous period[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,393,209,708.71, a 1.59% increase from CNY 3,340,090,172.57 at the end of the previous year[7]. - The company's current assets totaled RMB 2,380,583,387.36, compared to RMB 2,323,937,988.79 at the end of 2021, indicating an increase of about 2.44%[16]. - The company's cash and cash equivalents reached RMB 436,978,799.01, up from RMB 325,596,196.40 at the end of 2021, representing a growth of approximately 34.16%[16]. - The company's total liabilities were RMB 1,628,142,523.69, an increase from RMB 1,584,569,168.70, reflecting a growth of approximately 2.76%[18]. - The total equity attributable to shareholders was RMB 1,028,082,938.08, slightly up from RMB 1,024,061,401.24, indicating a marginal increase of about 0.39%[18]. - The company's inventory stood at RMB 537,137,648.32, a slight increase from RMB 533,895,896.59, reflecting a growth of approximately 0.43%[17]. - Accounts receivable decreased to RMB 1,196,453,968.22 from RMB 1,295,494,228.62, showing a decline of about 7.65%[16]. - The company reported a decrease in accounts payable to RMB 325,205,053.38 from RMB 400,644,197.19, indicating a decline of about 18.78%[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,361[12]. - The largest shareholder, Giti Tire (China) Investment Co., Ltd., held 151,070,000 shares, accounting for 44.43% of the total shares[13]. Operational Challenges - The company attributed the decline in net profit to rising raw material prices and the adjustment of pricing being less than the increase in costs[11]. - The company has ongoing daily related transactions with its parent group, which are deemed necessary for production and sales, highlighting the importance of these transactions for future operations[15]. - The company plans to enhance communication with minority shareholders and will revisit the approval processes for related transactions based on actual circumstances[15]. Impairment and Losses - The company reported a credit impairment loss of RMB 506,250.79 in Q1 2022, compared to a gain of RMB 724,700.21 in Q1 2021[21]. - The company recorded a net cash outflow from investing activities of RMB 27,083,206.79 in Q1 2022, compared to RMB 25,107,530.84 in Q1 2021[26].

Financial Performance - The net profit of GITI Tire Corporation for 2021 was -7.5486 million RMB, resulting in a distributable profit of 236.4588 million RMB as of December 31, 2021[7]. - The company's operating revenue for 2021 was CNY 3,341,881,316.25, representing a 19.22% increase compared to CNY 2,803,047,211.18 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 36,142,503.59, a decrease of 39.40% from CNY 59,636,247.45 in 2020[22]. - The basic earnings per share for 2021 was CNY 0.1063, down 39.40% from CNY 0.1754 in 2020[23]. - The weighted average return on equity for 2021 was 3.57%, a decrease of 2.45 percentage points from 6.02% in 2020[23]. - The net cash flow from operating activities for 2021 was CNY 310,989,371.87, a decline of 21.31% compared to CNY 395,214,216.10 in 2020[22]. - The total assets at the end of 2021 were CNY 3,340,090,172.57, an increase of 13.15% from CNY 2,951,795,566.60 at the end of 2020[22]. - The company achieved a revenue of 3.34 billion RMB in 2021, representing a year-on-year increase of 19.22%[39]. - Net profit decreased to 78 million RMB, down 37.34% year-on-year, with net profit attributable to shareholders at 36 million RMB, a decline of 39.40%[39]. - The gross margin for the tire business was 11.14%, a decrease of 6.26 percentage points from the previous year, attributed to rising raw material costs and limited pricing adjustments[45]. Dividend Distribution - A cash dividend of 0.35 RMB per 10 shares will be distributed to shareholders, totaling 11.9 million RMB[7]. - The company has not proposed a capital reserve increase for 2021, focusing solely on cash dividends[120]. Audit and Compliance - The company received an audit report with a disclaimer of opinion from Yongtuo Accounting Firm, indicating significant issues in obtaining sufficient audit evidence[5]. - The company’s financial report for 2021 has been audited but lacks a clear opinion, which raises concerns about financial transparency[10]. - The company is facing a risk of delisting due to the issuance of an audit report with a disclaimer of opinion for the 2021 financial statements[158]. - The company has been warned by the China Securities Regulatory Commission regarding compliance issues, indicating potential regulatory scrutiny[162]. - The company faced a negative opinion from the auditor on the 2021 internal control audit report, prompting the supervisory board to urge the board of directors to take effective measures[114]. Related Party Transactions - The company plans to continue necessary related party transactions despite the failure to pass the 2020 and 2021 annual related party transaction plans[9]. - Significant related-party transactions exist, primarily for operational needs, and the company is committed to managing these transactions effectively[87]. - The company has faced challenges in obtaining shareholder approval for related party transactions, which has led to a reliance on these transactions to sustain operations and avoid significant losses[150]. - The total amount of related party transactions for 2021 was CNY 39.15 billion, with actual sales of goods to related parties reaching CNY 32.68 billion, which is within the expected limit of CNY 35 billion[163]. - Giti Tire's related party transactions for 2021 have not been approved by the shareholders' meeting, which is a significant issue affecting the financial statements[187]. Market and Industry Trends - The global economic growth in 2021 was 5.5%, but it is expected to decline to 4% in 2022 due to ongoing challenges from the pandemic and rising raw material prices[31]. - The company has faced challenges from rising raw material prices and trade protectionism, impacting overall profitability in the tire industry[33]. - The tire manufacturing industry in China has a relatively low concentration, with major production concentrated in Shandong and Jiangsu provinces[76]. - The trend towards globalization and group consolidation is evident, with large tire companies having stronger financial and R&D capabilities[77]. - The industry is seeing an increase in R&D investment, focusing on safety, energy efficiency, and environmentally friendly products[77]. Production and Sales - In 2021, the company's sales volume of semi-steel radial tires increased by 21.0%, with sales of products over 18 inches growing by 19.4% domestically[35]. - The total production of key member enterprises in the tire industry reached 529.22 million units in 2021, a year-on-year increase of 11.28%[32]. - The production of TBR tires reached 122.38 million units in 2021, a year-on-year increase of 4.12%[32]. - The company produced 1,461.95 million tires, a year-on-year increase of 20.62%, while sales volume reached 1,448.75 million tires, up 19.35%[46]. - The company’s full-steel radial tire sales volume grew by 6.1%, with a focus on the passenger transport market[35]. Environmental Initiatives - The company was recognized as a national-level "Green Factory" by the Ministry of Industry and Information Technology, highlighting its leadership in green manufacturing practices[38]. - The company completed the boiler ultra-low emission project modification in 2021, with the 5 boiler operational by July 2021 and the 4 boiler by December 2021[129]. - The actual concentration of SO2 emissions from the boiler was 110.10 mg/m3, significantly below the standard limit of 400 mg/m3[131]. - The company generated 20,040,178 KWh of electricity from its rooftop distributed photovoltaic project in 2021, reducing carbon emissions by 14,098.3 tons per year[141]. - The company operates a comprehensive online monitoring system for wastewater and boiler emissions, ensuring compliance with environmental regulations[135]. Management and Governance - The company has not completed the shareholding reform, which may pose policy risks in the future[10]. - The company has implemented measures to avoid competition with its subsidiaries, ensuring compliance with market regulations[89]. - The company is enhancing its internal control systems to align with regulatory requirements and improve financial reporting accuracy[86]. - The total number of employees in the parent company and major subsidiaries is 3,220, with 29 in the parent company and 3,191 in subsidiaries[115]. - The company has established a performance-based training system to enhance employee skills and meet future demands[118]. Strategic Focus - The company plans to adjust its marketing focus to increase the proportion of domestic sales and optimize product structure to mitigate the impact of rising costs[31]. - The company is focusing on upgrading its tire products to meet higher technological and performance standards due to market demand[62]. - The company aims to achieve full-process intelligent manufacturing in tire production through automation and big data systems[80]. - The company’s strategic focus includes customer-centricity, technology, digitalization, and talent development[79]. - The company has identified potential risks, including the impact of the COVID-19 pandemic and the need for ongoing communication with shareholders regarding related party transactions[81][82].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 848,011,816.96, representing a year-on-year increase of 0.16%[5] - The net profit attributable to shareholders for Q3 2021 was CNY 12,201,565.60, a decrease of 51.33% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 12,367,556.38, down 48.70% year-on-year[5] - The basic earnings per share for Q3 2021 was CNY 0.04, a decline of 42.86% compared to the previous year[6] - The diluted earnings per share for Q3 2021 was also CNY 0.04, reflecting a 42.86% decrease year-on-year[11] - The weighted average return on equity for Q3 2021 was 1.20%, a decrease of 1.35 percentage points compared to the previous year[6] - The net profit attributable to shareholders for the year-to-date was CNY 30,986,007.78, down 36.01% compared to the same period last year[5] - Net profit for the first three quarters of 2021 was ¥66,209,914.05, a decrease of 34% from ¥100,320,618.03 in the same period of 2020[24] - Earnings per share for the first three quarters of 2021 were ¥0.09, down from ¥0.14 in the same period of 2020[24] Assets and Liabilities - The total assets at the end of Q3 2021 were CNY 3,302,570,959.03, an increase of 11.88% from the end of the previous year[6] - Total assets as of September 30, 2021, amounted to CNY 3,302,570,959.03, an increase from CNY 2,951,795,566.60 at the end of 2020[19] - Current assets totaled CNY 2,301,618,088.39, up from CNY 1,938,915,551.01 in the previous year, indicating a growth of approximately 18.7%[18] - Total liabilities reached CNY 1,558,960,299.91, compared to CNY 1,255,694,821.53, reflecting an increase of around 24.1%[19] - The company reported a significant increase in accounts payable, which rose to CNY 286,046,872.52 from CNY 107,452,062.74, indicating a growth of approximately 166.5%[19] Cash Flow - The cash flow from operating activities for the year-to-date was CNY 153,473,742.16, with a decrease of 70.90% in the current period due to reduced accounts receivable collections[10] - Cash flow from operating activities for the first three quarters of 2021 was ¥153,473,742.16, an increase of 23.8% compared to ¥124,044,240.32 in the same period of 2020[27] - The net cash flow from investing activities was -$71,435,200.93, compared to -$43,751,414.65 in the previous year, indicating an increase in cash outflow for investments[28] - Cash inflow from financing activities was $212,702,900.00, down from $286,018,046.71 year-over-year[28] - Cash outflow for debt repayment was $371,531,440.27, which increased from $238,282,496.71 in the previous year[28] - The net cash flow from financing activities was -$201,967,754.81, compared to -$96,813,116.53 in the previous year, reflecting a significant increase in cash outflow[28] - The ending cash and cash equivalents balance was $205,783,217.77, slightly up from $197,318,076.48 year-over-year[28] - The total cash inflow from investment activities was $6,204,951.71, compared to $10,117,694.68 in the previous year, showing a decline[28] - The company reported a significant increase in cash outflow for fixed assets and intangible assets, totaling $77,640,152.64, compared to $53,869,109.33 in the previous year[28] - The cash and cash equivalents net decrease was -$119,750,669.08, compared to -$16,683,022.73 in the previous year, indicating a worsening liquidity position[28] Operational Costs and Expenses - Total operating costs for the first three quarters of 2021 were ¥2,340,382,226.23, up 27.7% from ¥1,832,259,817.07 in the previous year[22] - Research and development expenses for the first three quarters of 2021 amounted to ¥18,689,429.88, an increase of 54.5% from ¥12,086,155.79 in the previous year[23] - Selling expenses for the first three quarters of 2021 were ¥100,190,969.37, up 19.6% from ¥83,766,072.96 in the same period of 2020[23] - Management expenses for the first three quarters of 2021 reached ¥122,501,809.67, an increase of 14.3% compared to ¥107,149,725.59 in the previous year[23] Related Party Transactions - The company emphasized the necessity of ongoing related party transactions to leverage the brand and R&D capabilities of the parent group, which are crucial for competitive positioning[15] - The company plans to enhance communication with minority shareholders regarding operational strategies and related party transactions[15] - The company has not yet received shareholder approval for related party transactions for 2020 and 2021, which are deemed essential for its operations[15]

Financial Performance - The company's operating revenue for Q3 2021 was ¥848,011,816.96, representing a year-on-year increase of 0.16%[6]. - The net profit attributable to shareholders for Q3 2021 was ¥12,201,565.60, a decrease of 51.33% compared to the same period last year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,367,556.38, down 48.70% year-on-year[6]. - Basic earnings per share for Q3 2021 were ¥0.04, down 42.86% year-on-year[7]. - Diluted earnings per share for Q3 2021 were also ¥0.04, a decrease of 42.86% compared to the previous year[7]. - Net profit for the third quarter of 2021 was CNY 66,209,914.05, a decrease from CNY 100,320,618.03 in the same quarter of 2020, reflecting a decline of approximately 34%[22]. - Earnings per share for the third quarter of 2021 were CNY 0.09, down from CNY 0.14 in the same quarter of 2020[23]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥153,473,742.16, reflecting a decrease of 23.73%[7]. - Net cash inflow from operating activities amounted to ¥153,473,742.16, an increase from ¥124,044,240.32 in the previous year, reflecting a growth of approximately 23.7%[25]. - Cash received from operating activities totaled ¥1,848,954,765.42, up from ¥1,708,389,958.88, marking an increase of approximately 8.2%[25]. - Cash paid for employee compensation was ¥309,540,218.68, compared to ¥234,226,635.53 in the previous year, reflecting a rise of about 32.2%[25]. - Cash paid for taxes was ¥31,167,159.08, down from ¥41,537,420.58, indicating a decrease of about 25.1%[25]. - Cash inflow from borrowings was ¥212,702,900.00, down from ¥286,018,046.71, reflecting a decrease of about 25.6%[26]. - Total cash outflow from investing activities was ¥77,640,152.64, compared to ¥53,869,109.33 in the same period last year, indicating an increase of about 44.2%[26]. - Net cash outflow from financing activities reached ¥201,967,754.81, worsening from a net outflow of ¥96,813,116.53 in the previous year[26]. - The total cash and cash equivalents at the end of the period stood at ¥205,783,217.77, a decrease from ¥197,318,076.48 year-over-year[26]. Assets and Liabilities - Total assets at the end of Q3 2021 were ¥3,302,570,959.03, an increase of 11.88% from the end of the previous year[7]. - Current assets totaled CNY 2,301,618,088.39, up from CNY 1,938,915,551.01, indicating an increase of about 18.7% year-over-year[18]. - Accounts receivable rose significantly to CNY 1,302,605,677.74 from CNY 880,250,946.46, marking an increase of approximately 47.9%[17]. - Inventory levels increased to CNY 505,443,491.03, compared to CNY 419,132,586.13, representing a growth of around 20.6%[18]. - The company's total liabilities as of the end of the third quarter of 2021 amounted to CNY 1,558,960,299.91, compared to CNY 1,255,694,821.53 at the end of the same period in 2020, representing an increase of about 24.1%[20]. - The total liabilities increased to CNY 2,301,618,088.39, reflecting the company's growing operational scale and financial commitments[18]. - The total equity attributable to shareholders of the parent company was CNY 1,018,904,905.43, up from CNY 1,006,618,897.65 in the same period of 2020, showing a slight increase of approximately 1.3%[20]. Research and Development - Research and development expenses for the first three quarters of 2021 were CNY 18,689,429.88, compared to CNY 12,086,155.79 in 2020, indicating an increase of about 54.5%[21]. Shareholder Relations - The company plans to enhance communication with minority shareholders regarding operational strategies and financial performance[15]. - The top shareholder, Giti Tire (China) Investment Co., Ltd., holds 44.43% of the shares, indicating a strong controlling interest[13]. - The company emphasized the necessity of ongoing related party transactions to leverage the brand and R&D capabilities of the parent group, which are crucial for competitive positioning[15]. - The company is committed to maintaining its market position through strategic partnerships and leveraging its parent group's resources[15]. Overall Revenue and Costs - Total operating revenue for the first three quarters of 2021 reached CNY 2,423,234,140.56, an increase from CNY 1,970,687,716.39 in the same period of 2020, representing a growth of approximately 22.9%[21]. - Total operating costs for the first three quarters of 2021 were CNY 2,340,382,226.23, up from CNY 1,832,259,817.07 in 2020, indicating an increase of about 27.7%[21].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 1.58 billion, representing a 40.14% increase compared to CNY 1.12 billion in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2021 was CNY 18.78 million, a decrease of 19.55% from CNY 23.35 million in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 15.84 million, down 23.55% from CNY 20.72 million in the same period last year[22]. - The net cash flow from operating activities increased by 104.19% to CNY 136.89 million, compared to CNY 67.04 million in the previous year[22]. - The total assets at the end of the reporting period were approximately CNY 3.36 billion, reflecting a 13.69% increase from CNY 2.95 billion at the end of the previous year[22]. - The weighted average return on net assets for the first half of 2021 was 1.85%, a decrease of 0.52 percentage points from 2.37% in the same period last year[22]. - The basic earnings per share for the first half of 2021 were CNY 0.0552, down 19.65% from CNY 0.0687 in the previous year[22]. - The gross profit for the period was RMB 238 million, reflecting a 12.01% increase year-on-year[29]. - The net profit attributable to shareholders was RMB 19 million, a decrease of 19.55% compared to the previous year[29]. - The total profit for the first half of 2021 was CNY 51,873,615.58, a decrease of 19.0% from CNY 64,166,080.84 in the same period of 2020[100]. Revenue and Costs - Operating costs rose to RMB 1.34 billion, an increase of 46.72% compared to the same period last year[31]. - Total operating revenue for the first half of 2021 reached CNY 1,575,222,323.60, a significant increase of 40.1% compared to CNY 1,124,010,180.88 in the first half of 2020[97]. - Total operating costs for the first half of 2021 were CNY 1,529,872,798.93, up 44.9% from CNY 1,054,695,104.97 in the same period last year[97]. Assets and Liabilities - The company's net assets attributable to shareholders at the end of the reporting period were approximately CNY 1.01 billion, showing a slight increase of 0.01% from CNY 1.01 billion at the end of the previous year[22]. - Cash and cash equivalents increased to ¥393,929,805.02, representing 11.74% of total assets, up from 11.33% last year, a growth of 17.80%[34]. - Accounts receivable rose to ¥1,080,165,897.16, accounting for 32.19% of total assets, compared to 29.82% last year, an increase of 22.71%[34]. - Inventory increased by 34.85% to ¥565,202,497.66, now representing 16.84% of total assets, attributed to higher finished goods and raw materials[34]. - Total current liabilities reached RMB 999,356,497.93, up from RMB 665,966,029.27, representing a growth of around 50%[90]. - The total liabilities of the company were RMB 1,637,561,523.92, which is an increase from RMB 1,255,694,821.53, reflecting a growth of about 30.4%[90]. Research and Development - Research and development expenses increased by 72.20% to RMB 11.62 million, indicating a focus on product development[31]. - Research and development expenses for the first half of 2021 were CNY 11,619,931.65, up from CNY 6,748,088.55 in the same period last year, indicating increased investment in innovation[97]. Environmental Responsibility - The company has implemented pollution control measures, including a bag filter and a three-stage desulfurization tower for boiler emissions[49]. - Actual SO2 emissions from the boiler were 167.46 mg/m3, below the standard limit of 400 mg/m3[49]. - The company reported a total wastewater discharge of 1.20 tons, with COD levels at 13.89 mg/l, well below the standard of 300 mg/l[52]. - The company has established an environmental emergency response plan, revised in July 2020, and filed with local environmental authorities[55]. - The company has complied with environmental regulations, completing environmental impact assessments for all past technical upgrades[54]. Shareholder and Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The total number of ordinary shareholders at the end of the reporting period was 26,812[80]. - The largest shareholder, Giti Tire (China) Investment Co., Ltd., holds 151,070,000 shares, representing 44.43% of the total shares[82]. - There were significant changes in the board of directors, with multiple resignations and elections, including the appointment of a new general manager[44]. Related Party Transactions - The total expected transaction amount for related party transactions in 2021 is capped at 44.66 billion RMB, with actual transactions in the first half of 2021 amounting to 18.9 billion RMB[68]. - The company reported a significant portion of its sales to related parties, with sales of tires to GITI Tire Global Trading Pte Ltd amounting to 7.06 billion RMB, representing 45.08% of the total sales[69]. - The company has received a qualified opinion from the auditor regarding significant related party transactions that were not approved by the shareholders' meeting[65]. Financial Reporting and Compliance - The company’s financial statements comply with the relevant accounting standards, ensuring a true and fair view of its financial position[136]. - The company has not reported any major litigation or arbitration matters during the reporting period[67]. - The company has not provided any performance guidance or future outlook in the disclosed documents[72][76]. Future Outlook and Risks - The company faces risks from industry competition, international trade barriers, and fluctuations in raw material prices, which could impact profitability[40]. - The company plans to address ongoing risks related to daily related-party transactions that have not yet been approved by the shareholders' meeting[38]. - The company’s future outlook remains cautious due to the reported losses and overall financial performance[120].

Financial Performance - Operating revenue rose by 55.55% to CNY 782,477,279.54 year-on-year[4] - Net profit attributable to shareholders increased by 17.75% to CNY 13,502,640.67 compared to the same period last year[4] - Basic earnings per share increased by 17.80% to CNY 0.0397[4] - Operating revenue for the period reached 782 million, an increase of 56% compared to the same period last year, primarily due to improved sales following last year's pandemic impact[10] - Cash received from sales of goods and services reached 712 million, up 127% compared to the previous year, indicating improved cash collection[11] Asset and Shareholder Information - Total assets increased by 9.18% to CNY 3,222,854,327.62 compared to the end of the previous year[4] - The number of shareholders reached 27,414 at the end of the reporting period[8] - The largest shareholder, Giti Tire (China) Investment Co., Ltd., holds 44.43% of the shares[8] Cash Flow and Expenses - Net cash flow from operating activities improved significantly to CNY 78,945,713.29, compared to a loss of CNY 153,304,806.00 in the previous year[4] - Operating costs for the period amounted to 655 million, reflecting a 61% increase year-on-year, driven by the rise in sales revenue[10] - Research and development expenses increased by 109% to 5 million, attributed to increased investment in R&D activities[11] - Sales expenses rose to 33 million, a 47% increase year-on-year, mainly due to higher transportation and export costs associated with increased sales volume[11] - Cash paid for fixed assets and other long-term assets was 26 million, a 210% increase year-on-year, due to higher fixed asset purchases[12] - Financial expenses surged by 2104% to 5 million, mainly due to reduced foreign exchange gains from fluctuations in the US dollar[11] - Other income decreased by 86% to 0.006 million, primarily due to a reduction in government subsidies received compared to the previous year[11] Non-Recurring Items and Returns - Non-recurring gains and losses totaled CNY 534,164.07 for the reporting period[7] - The weighted average return on net assets increased by 0.16 percentage points to 1.33%[4] Future Plans - The company plans to continue expanding its market presence and invest in new product development[4]

Financial Performance - Operating revenue rose by 55.55% to CNY 782,477,279.54 year-on-year[5] - Net profit attributable to shareholders increased by 17.75% to CNY 13,502,640.67 compared to the same period last year[5] - Basic earnings per share increased by 17.80% to CNY 0.0397[5] - Total operating revenue for Q1 2021 reached ¥782,477,279.54, a significant increase of 55.5% compared to ¥503,043,762.43 in Q1 2020[24] - Net profit for Q1 2021 was ¥28,443,548.80, representing a 17.5% increase from ¥24,226,007.23 in Q1 2020[25] - The company's operating revenue for Q1 2021 was CNY 3,199,639.13, an increase of 16.4% compared to CNY 2,748,200.33 in Q1 2020[27] Cash Flow and Liquidity - Net cash flow from operating activities reached CNY 78,945,713.29, a significant recovery from a loss of CNY 153,304,806.00 in the previous year[5] - Cash received from sales of goods and services totaled 712 million RMB, a 127% increase year-on-year, indicating improved cash collection[12] - The total cash and cash equivalents at the end of Q1 2021 amounted to CNY 369,040,863.46, up from CNY 147,991,221.44 at the end of Q1 2020[32] - The company reported a significant increase in cash received from sales, totaling CNY 711,929,934.53 in Q1 2021, compared to CNY 313,458,954.52 in Q1 2020, representing a growth of 127.7%[30] - The cash outflow for investing activities was CNY 26,231,975.72 in Q1 2021, compared to CNY 8,463,462.81 in Q1 2020, indicating increased investment activity[31] - The company reported a cash outflow from financing activities of CNY 11,087,448.59 in Q1 2021, a decrease from CNY 96,383,287.48 in Q1 2020, suggesting reduced financing needs[31] Assets and Liabilities - Total assets increased by 9.18% to CNY 3,222,854,327.62 compared to the end of the previous year[5] - Total liabilities increased to 1.50 billion RMB from 1.26 billion RMB, reflecting the company's growing operational scale[18] - Total assets amounted to 3.22 billion RMB, up from 2.95 billion RMB at the end of the previous year[18] - Total liabilities as of March 31, 2021, were ¥6,629,846.93, down 33.0% from ¥9,935,978.43 at the end of 2020[22] Shareholder Information - The total number of shareholders reached 27,414 at the end of the reporting period[9] - The largest shareholder, Giti Tire (China) Investment Co., Ltd., holds 44.43% of the shares[9] Research and Development - Research and development expenses increased by 109% year-on-year to 5 million RMB, reflecting increased investment in R&D activities[12] - Research and development expenses for Q1 2021 were ¥5,299,901.64, an increase of 108.9% compared to ¥2,539,981.67 in Q1 2020[24] Financial Expenses - Financial expenses surged by 2104% year-on-year to 5 million RMB, mainly due to reduced foreign exchange gains from USD fluctuations[12] - The financial expenses showed a net income of CNY -8,715.26 in Q1 2021, compared to CNY -6,769.60 in Q1 2020, indicating a deterioration in financial costs[27] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 534,164.07 for the reporting period[8] - Other receivables decreased by 62% to 2 million RMB, primarily due to the recovery of receivables from the previous year[11] - Accounts payable rose by 192% to 314 million RMB, attributed to changes in procurement models and rising purchase prices[11] - Prepayments at the end of the period were 39 million RMB, a 134% increase from the beginning of the period, due to increased raw material purchases[11] - The company incurred credit impairment losses of CNY 11,089.32 in Q1 2021, a significant increase from CNY 1,106.51 in Q1 2020, highlighting rising credit risks[27]