证券代码：600213 证券简称：亚星客车 公告编号：2023-023 扬州亚星客车股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 二、 说明会召开时间、地点 （一）会议召开时间：2023 年 05 月 13 日（星期六）上午 09:00-10:00 （二）会议召开地点：全景网"投资者关系互动平台"（网址：https://ir.p5w.net） 1 会议召开时间：2023 年 05 月 13 日（星期六）上午 09:00-10:00 会议召开地点：全景网"投资者关系互动平台"（网址：https://ir.p5w.net） 会议召开方式：网络远程方式 （三）会议召开方式：网络远程方式 重要内容提示： 投资者可于 2023 年 05 月 08 日（星期一）至 05 月 12 日（星期五）12:00 前访 问 https://ir.p5w.net/zj/ ，进入问题征集专题页面 进行提问 ， 或 通过公司邮箱 yaolijuan@asiastarbus.com 向公司提问 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥153,959,222.04, representing a decrease of 45.92% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥31,869,896.32, with a diluted earnings per share of -¥0.11[5]. - The company experienced a 45.92% decline in operating income due to a substantial drop in domestic sales[7]. - Total operating revenue for Q1 2023 was ¥153,959,222.04, a decrease of 46.0% compared to ¥284,685,796.89 in Q1 2022[14]. - Net loss for Q1 2023 was ¥33,780,527.38, an improvement from a net loss of ¥43,592,244.04 in Q1 2022, representing a 22.5% reduction in losses[16]. - Operating revenue for Q1 2023 was CNY 127,199,385.14, down 30.8% from CNY 183,751,122.27 in Q1 2022[26]. - The net loss for Q1 2023 was CNY 29,849,776.70, an improvement from a net loss of CNY 43,697,696.73 in Q1 2022, indicating a reduction in losses by approximately 31.7%[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,538,086,410.57, down 10.75% from the end of the previous year[6]. - As of March 31, 2023, the total assets of the company amounted to ¥2,538,086,410.57, a decrease from ¥2,843,685,006.32 at the end of 2022, representing a decline of approximately 10.7%[12]. - The company's current assets totaled ¥2,301,801,958.55, down from ¥2,595,082,500.43, indicating a decrease of about 11.3%[11]. - The accounts receivable decreased to ¥1,227,624,957.21 from ¥1,413,258,933.33, reflecting a reduction of approximately 13.1%[11]. - The company's total liabilities were reported at ¥2,339,885,713.44, down from ¥2,612,655,386.56, which is a decrease of around 10.4%[13]. - Total current liabilities decreased from CNY 1,941,774,455.11 as of December 31, 2022, to CNY 1,743,810,991.57 as of March 31, 2023, reflecting a reduction of approximately 10.2%[24]. Equity and Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,230[8]. - The company's net loss attributable to shareholders was reported at -¥821,026,268.95, compared to -¥789,156,372.63 in the previous period, indicating a worsening of approximately 4.0%[13]. - The total equity attributable to shareholders decreased to ¥127,183,897.07 from ¥158,289,531.66, a decline of about 19.6%[13]. - The total equity decreased from CNY 166,933,326.58 as of December 31, 2022, to CNY 137,648,641.28 as of March 31, 2023, a decline of about 17.5%[24]. Cash Flow and Expenses - The company's cash flow from operating activities was ¥12,974,963.48, with a significant reduction in payment for goods contributing to this figure[7]. - Cash flow from operating activities generated a net inflow of ¥12,974,963.48 in Q1 2023, compared to a net outflow of ¥142,387,805.70 in Q1 2022[19]. - The company reported a total cash outflow from financing activities of ¥170,676,829.59 in Q1 2023, compared to ¥321,057,996.45 in Q1 2022[20]. - The company experienced a foreign exchange loss of ¥712,362.57 in Q1 2023, compared to a loss of ¥786,259.97 in Q1 2022[20]. - The company's cash and cash equivalents were reported at ¥259,605,229.76, down from ¥376,871,997.62, reflecting a decrease of approximately 31.1%[11]. - The ending cash and cash equivalents balance decreased to $43,683,900.19 from $164,310,636.63, a decline of about 73.4% year-over-year[30]. Research and Development - The company has no significant new product launches or technological advancements reported during this quarter[11]. - Research and development expenses for Q1 2023 were ¥12,425,848.78, slightly down from ¥13,397,028.23 in Q1 2022[14]. - Research and development expenses for Q1 2023 were CNY 8,691,183.05, slightly higher than CNY 8,110,714.58 in Q1 2022, showing an increase of about 7.2%[26]. Inventory and Borrowings - The short-term borrowings increased to ¥470,177,278.44 from ¥447,103,424.06, showing an increase of about 5.0%[12]. - The inventory increased to ¥240,649,591.07 from ¥204,523,552.79, representing a growth of approximately 17.6%[11]. - The company's inventory increased from CNY 143,673,579.05 at the end of 2022 to CNY 176,869,397.34 by the end of Q1 2023, representing a rise of approximately 23.0%[22]. - The company's short-term borrowings increased from CNY 412,439,981.25 at the end of 2022 to CNY 446,953,885.40 by the end of Q1 2023, an increase of approximately 8.4%[23].

Financial Performance - The company reported a net profit of -¥193,368,995.60 for 2022, with a net profit attributable to shareholders of -¥196,086,405.60, marking a significant decline compared to the previous year[5]. - Total revenue for 2022 was ¥1,500,575,243.34, representing a 53.34% increase from ¥978,563,634.82 in 2021[20]. - The basic earnings per share for 2022 was -¥0.71, a decrease of 0.72 percentage points from ¥0.01 in 2021[20]. - The net cash flow from operating activities was ¥292,437,069.53, down 53.23% from ¥625,234,270.06 in 2021[20]. - The company's total assets decreased by 11.06% to ¥2,843,685,006.32 at the end of 2022, down from ¥3,197,291,421.19 at the end of 2021[20]. - The net assets attributable to shareholders increased significantly by 697.76% to ¥158,289,531.66 at the end of 2022, compared to ¥19,841,663.38 at the end of 2021[20]. - The weighted average return on net assets was -97.73% for 2022, a decrease of 108.02 percentage points from 10.29% in 2021[21]. - The company reported a net profit attributable to shareholders for the year was a loss of RMB 196,086,505.60, with quarterly losses of RMB 43.64 million, RMB 28.37 million, RMB 24.15 million, and RMB 99.92 million[9]. - The cash flow from operating activities decreased by 53.23% to 292.44 million RMB, attributed to reduced government subsidies and increased payment for goods[50]. Operational Highlights - The company completed the development of 8.5m, 10.5m, and 12m low-entry fuel cell buses, addressing industry challenges and filling market gaps[32]. - The company implemented a new CRM system for overseas marketing, enhancing order tracking and improving operational efficiency[29]. - The company achieved a significant reduction in production costs through strategic supplier collaboration and centralized procurement, optimizing resource utilization[33]. - The company led a key project on intelligent control systems for connected drive new energy vehicles, which received funding approval[32]. - The company enhanced its safety production standards, achieving recognition as a "secondary standardization enterprise" by provincial authorities[30]. - The company focused on improving customer satisfaction through internal and external evaluation mechanisms, aligning with its core value of customer-centricity[28]. Market Trends - In 2022, the bus market experienced a decline, with sales of buses over 6 meters totaling 92,256 units, a year-on-year decrease of 5.0%[37]. - The domestic market saw a 22.6% increase in sales of public buses, totaling 60,000 units, primarily due to the low base effect from 2021[37]. - Exports of large and medium-sized buses reached 21,000 units, marking a year-on-year growth of 24.1%[37]. - The company is adapting to market changes driven by rising incomes and shifts in transportation preferences, impacting public transport demand[41]. - The company anticipates a gradual recovery in the bus market, projecting sales to reach around 120,000 units by 2025[78]. Research and Development - The company has a strong R&D capability with 240 R&D personnel, and as of the end of 2022, it held 75 authorized patents and 9 software copyrights[42]. - Research and development expenses rose by 14.69% to 75.66 million RMB, reflecting increased investment in R&D[50]. - The company has implemented a comprehensive quality management system, achieving ISO9001 and IATF16949 certifications[43]. - The company has optimized its electrophoresis process, enhancing the durability and safety of its vehicles, with corrosion resistance expected to last 8-10 years[44]. Governance and Compliance - The company has established a performance evaluation and incentive mechanism for senior management, linking their performance to operational responsibilities and risks[85]. - The company is committed to resolving overlapping business situations with its controlling shareholder within five years, and progress is currently underway[87]. - The board of directors and supervisory board are composed in accordance with legal requirements, ensuring independent opinions are provided to protect minority shareholders[85]. - The company has maintained compliance with information disclosure regulations, ensuring timely and accurate information is available to all shareholders[86]. - The company has conducted several shareholder meetings throughout 2022, addressing various corporate governance matters[88]. Environmental Responsibility - The company reported a COD concentration of 22 mg/L, significantly below the allowed limit of 500 mg/L, with a total discharge of 2.584 tons per annum[121]. - Total nitrogen concentration was recorded at 2.12 mg/L, well under the permissible level of 70 mg/L, resulting in an annual discharge of 1.041 tons[121]. - The company effectively managed its wastewater treatment, with various processes including coagulation and sedimentation, ensuring compliance with local discharge standards[123]. - The company has implemented a comprehensive air pollution control system, including dry filtration and RTO technology, to manage emissions from painting and welding processes[125]. - The company has established an emergency response plan for environmental incidents, enhancing its ability to manage potential pollution accidents[132]. Legal Matters - The company is involved in multiple lawsuits related to contract disputes, with claims totaling RMB 24,563,906.16 and RMB 26,705,624.72, currently in the first-instance judgment stage[143]. - The company has successfully resolved a lawsuit with a claim of RMB 12 million, which has been verbally withdrawn[143]. - The company is currently in litigation against Cao County Public Transport Co., Ltd. for a principal amount of CNY 18 million and is in the first-instance judgment stage, with the defendant having appealed[145]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 30,294, an increase from 29,222 at the end of the previous month[166]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 178,200,000 shares, representing 62.31% of the total shares[168]. - The company has 66,000,000 restricted shares that will become tradable on August 28, 2023, after a lock-up period of 18 months[170]. - The top ten shareholders do not have any related party relationships or concerted action relationships[171].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 523.15 million, representing a 5.84% increase compared to RMB 494.26 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of approximately RMB 72.01 million, compared to a loss of RMB 38.63 million in the same period last year[18]. - The net cash flow from operating activities was negative at approximately RMB 122.20 million, a significant decrease of 148.15% compared to RMB 253.80 million in the same period last year[18]. - The basic earnings per share for the first half of 2022 was -RMB 0.27, compared to -RMB 0.18 in the same period last year[19]. - The weighted average return on net assets was -34.74%, indicating a decline in profitability compared to previous periods[19]. - Operating costs increased by 14.89% to CNY 509.32 million, primarily due to increased order costs[42]. - The net loss for the first half of 2022 was CNY 71,733,790.85, compared to a net loss of CNY 40,408,328.95 in the same period of 2021, indicating a deterioration in performance[119]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 3.05 billion, a decrease of 4.60% from RMB 3.20 billion at the end of the previous year[18]. - The total liabilities decreased to CNY 2,696,467,193.70 from CNY 3,107,469,631.99, a decline of about 13.2%[112]. - The company's equity increased to CNY 353,626,657.46 from CNY 89,821,789.20, reflecting a substantial increase of approximately 294%[112]. - The company's total assets decreased to CNY 2,854,622,600.75 from CNY 3,041,580,896.04 at the end of the previous period, a decline of 6.1%[116]. - The company's total liabilities have increased, reflecting the company's ongoing financial challenges and need for strategic adjustments[138]. Research and Development - The company holds 65 authorized patents, including 8 invention patents, 29 utility model patents, and 28 design patents, enhancing its core competitiveness[25]. - Research and development expenses rose by 27.99% to CNY 35.22 million, reflecting increased investment in R&D[42]. - The company completed the acceptance of the national key research and development plan for fuel cells, with successful applications of technologies such as "multi-objective optimization" and "big data analysis"[39]. - The company has filed for 9 patents related to hydrogen fuel cell technology and intelligent networking technology, with 1 invention patent granted[39]. - The company is actively engaged in product research and development, focusing on future technologies to adapt to industry changes[31]. Market Performance - In the first half of 2022, the company sold 33,400 buses globally, a year-on-year decrease of 23.7%, while exports of large and medium-sized buses increased by 22.0% to 7,900 units[24][32]. - The domestic sales of public buses in the first half of 2022 reached 14,500 units, down 5.8% year-on-year, while sales of seat buses and school buses dropped significantly by 52.9% and 53.8%, respectively[32]. - The company anticipates better performance in the domestic bus market in the second half of 2022 due to the release of pent-up demand following the withdrawal of new energy vehicle subsidies[32]. - The company is responding to intensified competition in the bus market by adjusting its product structure and improving service quality[33]. Environmental Compliance - The company reported actual COD emissions of 152 mg/L, significantly below the allowed limit of 500 mg/L, with a total annual discharge of 7.43 tons[62]. - The actual discharge of ammonia nitrogen was 8.08 mg/L, well below the allowed limit of 45 mg/L, with a total annual discharge of 0.4 tons[62]. - The company’s noise levels during the day were recorded at 50.7 to 58.3 dB, which is compliant with the industrial noise emission standards[63]. - The company has implemented a wastewater treatment system that includes coagulation and sedimentation processes before discharging into the municipal wastewater treatment plant[64]. - The company has established a comprehensive air pollution control system for various production processes, including welding and painting operations[65]. Legal and Regulatory Matters - The company is involved in multiple lawsuits, including a claim for 11,367,610.76 CNY in a contract dispute with Xianrong Urban Bus Company[81]. - The company has initiated legal proceedings against several entities for unpaid amounts, including a claim for 14,836,096.76 CNY against Guangzhou Zhuhang School Bus Service Co., Ltd.[81]. - The company is pursuing a claim for 4,530,100.85 CNY against Harbin Fengda Bus Company for unpaid debts[82]. - The company has filed a lawsuit seeking to freeze assets worth 47,723,498.26 CNY from Beijing Hengtianxin Energy Technology Co., Ltd.[82]. - The company reported ongoing litigation that may impact its financial position and operations[81]. Shareholder and Capital Structure - The company completed a non-public offering of shares, increasing its paid-in capital by 30% to ¥286,000,000.00[46]. - The total number of ordinary shareholders was 34,313 as of the end of the reporting period[100]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 178.2 million shares, representing 62.31% of total shares[101]. - The company’s total share capital after the issuance is 286 million shares, with 66 million shares classified as limited sale conditions[97]. - The company’s major shareholders have not reported any pledges or freezes on their shares[101]. Strategic Initiatives - The company is actively pursuing legal actions to recover debts totaling over 38 million CNY from various bus service companies[82]. - The management emphasizes the importance of strategic partnerships and potential acquisitions to enhance competitive positioning in the market[140]. - The company plans to focus on market expansion and new product development to improve future performance[140]. - The company has upgraded its ERP and CRM systems to optimize multiple processes, enhancing operational efficiency[30]. - The company has established over 500 sales and after-sales service outlets, ensuring comprehensive coverage of vehicle sales areas[29].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 284,685,796.89, representing a year-on-year increase of 2.78%[5] - The net profit attributable to shareholders was a loss of CNY 43,641,648.00, a significant decrease of 3,930.16% compared to the same period last year[5] - The net cash flow from operating activities was negative CNY 142,387,805.70, reflecting a decline of 206.15% year-on-year[5] - Basic and diluted earnings per share were both CNY -0.15, indicating a decrease of 1,600.00% compared to the previous year[6] - The weighted average return on equity was -26.30%, a decrease of 32.69 percentage points from the previous year[6] - The company reported a net loss of RMB 636,711,615.03 for Q1 2022, compared to a net loss of RMB 593,069,967.03 in Q1 2021[16] - The total comprehensive income attributable to the parent company for Q1 2022 was -43,641,648.00 RMB, compared to 1,139,420.32 RMB in Q1 2021[18] - The total operating profit for Q1 2022 was -43,928,397.72 RMB, compared to -70,005.36 RMB in Q1 2021[17] - The net profit for Q1 2022 was -¥43,697,696.73, compared to a net profit of ¥1,039,134.32 in Q1 2021, indicating a significant decline[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,145,606,579.30, down 1.62% from the end of the previous year[6] - As of March 31, 2022, total assets amounted to RMB 3,145,606,579.30, a decrease from RMB 3,197,291,421.19 as of December 31, 2021[16] - The company's total liabilities decreased from RMB 3,107,469,631.99 to RMB 2,763,388,175.23, indicating a reduction in financial obligations[15] - The total assets decreased from ¥3,041,580,896.04 in the previous year to ¥2,944,226,147.15 in Q1 2022, a reduction of approximately 3.2%[23] - The total liabilities also decreased from ¥3,010,153,965.25 to ¥2,620,756,346.97, reflecting a decline of about 12.9%[23] Shareholder Information - The equity attributable to shareholders increased to CNY 312,068,526.78, a substantial increase of 1,472.79% compared to the previous year[6] - The company's equity attributable to shareholders increased from RMB 19,841,663.38 to RMB 312,068,526.78, showing significant improvement in shareholder value[16] - The number of ordinary shareholders at the end of the reporting period was 16,627[10] - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., held 62.31% of the shares, totaling 178,200,000 shares[10] Cash Flow and Investments - The company's cash and cash equivalents as of March 31, 2022, were RMB 365,771,322.47, slightly down from RMB 368,095,089.47 at the end of 2021[13] - Cash and cash equivalents at the end of Q1 2022 were 238,876,636.12 RMB, a decrease from 328,807,396.41 RMB at the end of 2021[19] - The cash flow from operating activities for Q1 2022 was -142,387,805.70 RMB, compared to a positive cash flow of 134,142,980.35 RMB in Q1 2021[19] - The company raised a total of RMB 334,720,377.36 from a non-public offering of up to 66 million shares, increasing its registered capital from RMB 220 million to RMB 286 million[12] - The company raised 339,240,000.00 RMB from investments in Q1 2022, compared to no investment income in Q1 2021[19] - The net cash flow from financing activities was $64,347,163.37, a significant improvement compared to a net outflow of $261,763,506.60 in the previous period[26] - The company received $339,240,000.00 from investment activities during the period[26] Operational Costs and Inventory - Operating costs for Q1 2022 were RMB 326,833,695.95, up from RMB 298,838,317.83 in Q1 2021, representing an increase of about 9.4%[16] - Inventory increased from RMB 255,535,651.26 in December 2021 to RMB 290,800,385.44 in March 2022, indicating a rise of approximately 13.8%[14] - The company's inventory increased to ¥172,640,824.00 in Q1 2022, up from ¥126,411,898.75 in the same period last year, representing a rise of approximately 36.5%[22] Research and Development - Research and development expenses for Q1 2022 were ¥8,110,714.58, slightly down from ¥8,927,857.07 in Q1 2021[24] Other Financial Metrics - The company's short-term borrowings decreased from ¥493,143,516.32 to ¥457,471,097.29, a reduction of about 7.2%[23] - The company's capital reserve increased significantly from ¥342,093,992.81 to ¥611,833,992.81, an increase of approximately 79%[23] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $383,517.43[26] - The net increase in cash and cash equivalents was a decrease of $84,283,607.02, compared to a decrease of $101,810,848.93 in the prior year[26]

Financial Performance - In 2021, the company achieved a net profit of CNY 1,891,610.13, a significant recovery from a net loss of CNY 158,206,618.16 in 2020[6]. - The total operating revenue for 2021 was CNY 978,563,634.82, representing a decrease of 47.93% compared to CNY 1,879,479,861.89 in 2020[21]. - The net cash flow from operating activities increased by 51.02% to CNY 625,234,270.06 from CNY 414,019,355.41 in the previous year[21]. - The company's total assets decreased by 23.25% to CNY 3,197,291,421.19 from CNY 4,165,662,222.23 in 2020[21]. - The net assets attributable to shareholders increased by 17.31% to CNY 19,841,663.38 from CNY 16,914,257.35 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.01, recovering from a loss of CNY 0.72 per share in 2020[22]. - The weighted average return on net assets improved to 10.29% from -165.80% in the previous year, an increase of 176.09 percentage points[22]. - The company reported a significant decrease in total equity, with a drop of 23.25% compared to the previous year[21]. - The company did not propose any profit distribution or capital reserve transfer for the year, with retained earnings carried forward to the next year[6]. - The company reported a significant reduction in financial expenses by 52.37% to approximately CNY 75.92 million, contributing to overall cost efficiency[57]. - The company reported a net profit of -157,421,322.50 CNY for the year 2020, with a total distributable profit of -594,961,577.16 CNY for shareholders[115]. Revenue and Sales - In Q1 2021, the company reported revenue of approximately ¥276.98 million, while Q2 revenue decreased to ¥217.29 million, and Q3 further declined to ¥156.99 million, before rebounding to ¥327.31 million in Q4[25]. - The net profit attributable to shareholders was ¥1.14 million in Q1, but the company faced losses in Q2 (¥-39.77 million) and Q3 (¥-59.27 million), with a recovery to ¥99.79 million in Q4[25]. - The company reported non-recurring gains of approximately ¥168.27 million in 2021, with a notable increase in government subsidies contributing ¥157.92 million[26]. - The bus market saw a decline, with sales of buses over 6 meters dropping by 7.9% year-on-year, totaling 97,000 units in 2021[36]. - The company exported 17,000 medium and large buses in 2021, representing a year-on-year growth of 28.3%[37]. - The domestic bus market saw a decline of over 20% in sales due to factors such as the pandemic and local fiscal impacts[37]. - The company's revenue from the mechanical manufacturing industry was approximately ¥961.98 million, with a year-over-year decrease of 48.46%[51]. - Bus sales generated revenue of approximately ¥927.99 million, reflecting a year-over-year decline of 47.90%[51]. - Revenue from parts sales was approximately ¥33.99 million, with a significant year-over-year decline of 60.17%, but the gross margin increased by 22.61 percentage points to 14.99%[51]. - The total sales volume of the bus market in 2021 was 2,023 units, a decrease of 31.42% compared to the previous year[68]. - The sales volume of large buses was 699 units, down 65.03% year-on-year, while medium buses increased by 24.31% to 997 units[68]. - The cumulative sales of new energy vehicles reached 983 units, representing a year-on-year increase of 24.75%[72]. - The revenue from pure electric vehicles was approximately 52.34 million RMB, with subsidies amounting to 5.79 million RMB, accounting for 11.06% of the revenue[74]. Research and Development - The company invested 65.96 million RMB in R&D, an increase of 11.76% from the previous year, reflecting a focus on innovation[48]. - The company filed for 9 patents related to new technologies, including 1 invention patent and 6 utility model patents, supporting its innovation in hydrogen fuel cell technology and intelligent connected vehicles[33]. - The company achieved a significant milestone by being approved as a Jiangsu Province Intelligent Connected Bus Engineering Research Center, focusing on solving core technology issues in this field[33]. - The total R&D expenditure was approximately ¥65.96 million, accounting for 6.74% of total revenue[58]. - The company has invested 50 million in R&D for advanced technologies, focusing on electric vehicle solutions[96]. Market Strategy and Expansion - The company focused on enhancing core competitiveness through increased R&D investment and improved quality supervision, aiming to stabilize its market position amid industry downturns[28]. - The company is actively expanding into overseas markets while implementing cost reduction and efficiency improvement strategies[28]. - The company aims to enhance its market position by focusing on the development of new energy buses amid increasing competition[41]. - The overseas market demand is expected to rise, particularly for new energy buses, due to favorable conditions in Europe and increasing global electric vehicle demand[78]. - The company expects the bus industry sales to reach around 130,000 units by 2025, driven by market demand recovery and a new replacement cycle[77]. - The company anticipates continued growth in hydrogen fuel cell buses, supported by national policies and market demand[78]. - The company plans to focus on enhancing its bus and chassis business to provide first-class public transportation solutions globally[79]. - The company is committed to enhancing customer satisfaction and market share through a positive business cycle[80]. - The company is focusing on strategic areas such as cost reduction and efficiency improvement to become a key green bus supplier[80]. Governance and Management - The company aims to improve its governance structure and ensure compliance with legal requirements, enhancing transparency and stakeholder rights[86]. - The company has a total of 993,033.198 hours of outsourced labor, with total payments amounting to 14,895,497.98 CNY[114]. - The company has established various specialized committees, including the audit committee and the strategic committee, to enhance governance[106]. - The company is focusing on enhancing its internal control and audit processes as part of its governance strategy[102]. - The company has a diverse management background, with executives having extensive experience in various sectors including finance and operations[93]. - The average age of the current board members is 51 years, indicating a relatively experienced leadership team[91]. - The company has seen a stable management team with no significant changes in key positions during the reporting period[91]. - The company has outlined its commitment to strategic growth and stability in its management practices moving forward[91]. Environmental Impact - The company reported actual COD emissions of 152 mg/L, significantly below the allowed limit of 500 mg/L, with a total annual discharge of 1.473 tons[121]. - The company’s actual discharge of ammonia nitrogen was 41.2 mg/L, which is within the permissible limit of 45 mg/L, with a total annual discharge of 0.6277 tons[121]. - The company’s total nitrogen emissions were recorded at 47.8 mg/L, below the allowed limit of 70 mg/L, with a total annual discharge of 0.4183 tons[122]. - The company’s daytime noise levels were measured at 50.7 to 58.3 dB(A), compliant with the industrial enterprise boundary noise emission standards[122]. - The company has implemented a wastewater treatment system that includes coagulation, sedimentation, and flotation processes to treat various types of wastewater before discharge[123]. - The company has installed multiple air pollution control systems, including dry filtration and activated carbon beds, to manage emissions from painting and welding processes[126]. - The company is actively monitoring and managing its environmental impact, ensuring compliance with relevant pollution discharge standards[121]. - The company has implemented various noise reduction measures, ensuring that daytime and nighttime noise levels meet the industrial noise emission standards[129]. - The company has completed the environmental risk assessment report and emergency response plan for sudden environmental pollution incidents[132]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[134]. Legal and Compliance - The company faced a significant lawsuit involving a claim of CNY 14,214,213.20, which was ultimately dismissed, resulting in no liability for the company[149]. - The company is involved in multiple lawsuits related to sales contract disputes, with claims including 23.2 million yuan and 26.7 million yuan for payment and penalties[150]. - A lawsuit was filed against the company for 21 million yuan and associated costs, which has since been withdrawn without impact on the company[150]. - The company has also filed a lawsuit seeking 45 million yuan from several defendants, which has been withdrawn as well[150]. - A judgment ordered a defendant to pay 7.22 million yuan, which the company is not liable for after the final ruling[150]. - Another lawsuit involves a claim of 53.24 million yuan, with the company not bearing any responsibility after the court's decision[150]. - The company is involved in multiple lawsuits, with a total claim amount of approximately 122 million CNY across various cases, including a claim for 11.37 million CNY from Xian County Xiangrong Urban Public Transport Co., Ltd. for overdue payments[151]. - The company has successfully obtained a judgment requiring Harbin Fengda Public Transport Co., Ltd. to pay approximately 4.23 million CNY in overdue payments and has dismissed all counterclaims[151]. - The company has reached a civil mediation agreement to pay 10.5 million CNY in installments to Lijiang Chair Industry Co., Ltd. for overdue payments, which is currently in execution[151]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[101]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 16,924, an increase from 16,627 at the end of the previous month[167]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, representing 51.00% of the total shares[170]. - The second-largest shareholder, Pi Minrong, holds 4,055,100 shares, accounting for 1.84% of the total shares[170]. - The company has not engaged in any entrusted financial management or entrusted loans during the reporting period[166]. - There were no changes in the total number of shares or the capital structure during the reporting period[166]. - The company does not have any major contracts or significant events that would impact investor decision-making[164]. - There are no strategic investors or general legal entities that have become among the top 10 shareholders due to new share placements[171]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[172]. - The actual controller of the company is the Shandong Provincial Government State-owned Assets Supervision and Administration Commission, established on June 16, 2004[173]. - There are no pledged shares that account for 80% or more of the total shares held by the controlling shareholder or the largest shareholder[175].

Financial Performance - The company's operating revenue for Q3 2021 was ¥156,986,763.76, a decrease of 60.73% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥59,270,250.82, with a year-to-date loss of ¥97,897,777.12, both figures not applicable for year-on-year comparison[4] - Total operating revenue for the first three quarters of 2021 was CNY 651,250,920.39, a decrease of 51.4% compared to CNY 1,339,277,023.26 in the same period of 2020[18] - Net profit for the first three quarters of 2021 was a loss of CNY 105,737,714.25, compared to a loss of CNY 88,381,008.37 in the same period of 2020, representing a 19.5% increase in losses[19] - The company reported a total comprehensive loss of CNY 105,737,714.25 for the first three quarters of 2021, compared to a loss of CNY 88,381,008.37 in the same period of 2020[20] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥513,731,683.42, an increase of 101.48%[8] - Operating cash flow for the first three quarters of 2021 was CNY 513,731,683.42, an increase of 101.0% from CNY 254,981,077.72 in the same period of 2020[22] - Total cash inflow from operating activities was CNY 1,314,998,468.93, down 21.6% from CNY 1,677,130,738.49 in the previous year[22] - Total cash outflow from operating activities was CNY 801,266,785.51, a decrease of 43.6% compared to CNY 1,422,149,660.77 in the same period of 2020[22] - The net cash flow from financing activities was -739,180,801.51, compared to -289,749,413.93 in the previous year, indicating a significant decline[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,055,282,581.43, down 26.66% from the end of the previous year[5] - Total liabilities as of September 30, 2021, were RMB 3,053,822,136.52, down from RMB 4,060,067,879.58 at the end of 2020[15] - Cash and cash equivalents decreased to RMB 205,826,249.79 from RMB 532,496,990.94[13] - The total equity attributable to shareholders was negative at RMB -79,721,090.27, compared to a positive RMB 16,914,257.35 at the end of 2020[15] Shareholder Information - Total number of common shareholders at the end of the reporting period was 18,825[10] - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, accounting for 51.00% of total shares[10] Operational Metrics - Operating costs decreased by 49.21% due to a decline in sales volume[7] - The company reported a significant increase in receivables financing by 686.62%, attributed to an increase in customer payments[7] - The company experienced a 808.39% increase in non-operating income, primarily from the reversal of expected losses related to bills litigation[7] - Research and development expenses for the first three quarters of 2021 were CNY 44,882,383.15, up 15.5% from CNY 38,747,290.07 in the previous year[18] Inventory and Receivables - Accounts receivable decreased to RMB 2,323,643,692.33 from RMB 3,068,678,196.48 year-over-year[13] - Inventory decreased to RMB 178,540,561.91 from RMB 206,005,038.06 year-over-year[14] Other Financial Metrics - Basic and diluted earnings per share for the first three quarters of 2021 were both CNY -0.44, compared to CNY -0.40 in the same period of 2020[20] - The cash and cash equivalents net increase was -229,816,546.27, compared to -41,162,859.86 in the same period last year, reflecting a worsening liquidity position[23] - The impact of exchange rate changes on cash and cash equivalents was -1,532,680.98, compared to -595,161.44 in the prior year, indicating increased foreign exchange risk[23] Product Development - The company has no significant new product or technology developments reported in the current quarter[12]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥494.26 million, a decrease of 47.39% compared to ¥939.49 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥38.63 million, compared to a loss of ¥39.35 million in the same period last year[18]. - Basic earnings per share for the first half of 2021 were -¥0.18, unchanged from the same period last year[19]. - The diluted earnings per share were also -¥0.18, consistent with the previous year[19]. - The net loss for the first half of 2021 was RMB 40,408,328.95, slightly improved from a net loss of RMB 41,685,529.17 in the first half of 2020[105]. - The total comprehensive income for the first half of 2021 was -39,349,151.93 RMB, a decrease compared to the previous period[119]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to approximately ¥253.80 million, compared to ¥19.40 million in the same period last year, representing a growth of 1,207.93%[18]. - The company’s cash and cash equivalents decreased by 44.46% to CNY 295.74 million, primarily due to a reduction in bank deposits[40]. - Cash inflow from financing activities was CNY 297,145,853.49, down 36.0% from CNY 464,195,506.04 in the previous year[111]. - The net cash flow from financing activities was negative CNY 461,003,500.20, a significant decline from negative CNY 75,494,005.52 in the previous year[111]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥3.42 billion, a decrease of 17.91% from ¥4.17 billion at the end of the previous year[18]. - The company's total liabilities decreased from CNY 4,060,067,879.58 in December 2020 to CNY 3,352,725,331.59 in June 2021, a decline of about 17.4%[99]. - The company's equity attributable to shareholders decreased from CNY 16,914,257.35 in December 2020 to CNY -20,354,207.98 in June 2021, indicating a shift to negative equity[99]. Sales and Market Performance - In the first half of 2021, the bus industry saw a total sales volume of 258,200 units, representing a year-on-year increase of 39.71%[25]. - Domestic sales of passenger buses decreased by 20.9% to 15,400 units due to reduced government subsidies and tighter local finances[31]. - The total sales volume for the company's buses was 1,053 units, with a notable decline in export sales of 0.65 million units, down 25.9% year-on-year[33][34]. Research and Development - The company has a research and development team of 133 personnel, with over 32% holding senior technical titles[26]. - The company is focusing on enhancing product competitiveness through partnerships with universities and advanced testing facilities[26]. - Research and development expenses were RMB 27,515,440.88, a slight increase of 1.3% from RMB 27,157,156.14 in the first half of 2020[104]. Environmental Compliance - Environmental compliance data showed that actual COD emissions were 62 mg/L, significantly below the allowed 500 mg/L[53]. - The company has implemented a wastewater treatment system that includes processes such as coagulation, sedimentation, and flotation, ensuring that treated wastewater is discharged into the Tangwang wastewater treatment plant[54]. - The company has established a hazardous waste storage area compliant with national standards, ensuring proper classification and disposal of hazardous solid waste[59]. Legal Matters - The company has ongoing significant litigation matters, including a lawsuit against Harbin Hongda Public Transport Co., Ltd. for payment of goods and overdue penalties, which is currently in the trial phase[71]. - The company has initiated legal proceedings against multiple parties for payment of debts and damages, with outcomes currently uncertain[72]. - The company has reported no significant changes in the status of its litigation matters that would affect its financial reporting[71]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 19,610[87]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, representing 51.00% of the total shares[89]. - There were no changes in the company's share capital structure during the reporting period[85]. Financial Reporting and Standards - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations[131]. - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements reflect a true and complete view of its financial status as of June 30, 2021[133]. - The company consolidates financial statements based on control, including all subsidiaries as of June 30, 2021[145].

Financial Performance - Net profit attributable to shareholders was CNY 1,139,420.32, a significant recovery from a loss of CNY 36,804,619.48 in the same period last year[7]. - Operating revenue increased by 4.99% to CNY 276,976,511.38 compared to CNY 263,820,364.87 in the previous year[7]. - Basic and diluted earnings per share improved to CNY 0.01 from a loss of CNY 0.17 in the same period last year[7]. - Net profit for Q1 2021 was CNY 1,230,561.13, recovering from a net loss of CNY 40,355,863.56 in Q1 2020[28]. - The company reported a gross profit margin of approximately -7.8% for Q1 2021, compared to -15.3% in Q1 2020[27]. - The total comprehensive income for Q1 2021 was ¥1,039,134.32, compared to a loss of ¥33,029,657.13 in Q1 2020[32]. Assets and Liabilities - Total assets decreased by 11.90% to CNY 3,669,984,365.12 compared to the end of the previous year[7]. - Total liabilities decreased to ¥3,562,363,082.33 from ¥4,060,067,879.58, reflecting a decrease in both current and non-current liabilities[19]. - The total assets as of the end of Q1 2021 were CNY 3,493,100,491.26, down from CNY 3,884,331,782.57 at the end of Q1 2020[23]. - Total liabilities decreased to CNY 3,482,861,274.38 in Q1 2021 from CNY 3,875,690,329.51 in Q1 2020[23]. - The total assets as of Q1 2021 amounted to ¥4,165,662,222.23, unchanged from the previous year[42]. - The total liabilities as of Q1 2021 were ¥4,060,067,879.58, remaining stable compared to the previous year[41]. Cash Flow - Net cash flow from operating activities decreased by 15.46% to CNY 134,142,980.35 compared to CNY 158,677,432.30 in the same period last year[7]. - Cash flow from operating activities for Q1 2021 was ¥134,142,980.35, down 15.5% from ¥158,677,432.30 in Q1 2020[34]. - Cash inflow from financing activities increased significantly to ¥170,350,000.00 in Q1 2021, compared to ¥92,000,000.00 in Q1 2020, marking an increase of 85.4%[37]. - The company’s net cash flow from financing activities was negative at -¥261,763,506.60 in Q1 2021, compared to -¥219,122,114.47 in Q1 2020, reflecting a worsening of 19.5%[37]. - The cash outflow from financing activities was ¥432,113,506.60 in Q1 2021, compared to ¥311,122,114.47 in Q1 2020, representing an increase of 38.8%[37]. Shareholder Information - The total number of shareholders reached 22,901 by the end of the reporting period[10]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 51.00% of the shares[11]. Research and Development - Research and development expenses rose by 39.64% to ¥13,885,202.09 due to higher salaries for R&D personnel and prototype costs[13]. - Research and development expenses increased to CNY 13,885,202.09 in Q1 2021, up 39.4% from CNY 9,943,303.73 in Q1 2020[27]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 4,898,700.00 related to its normal business operations[9]. - Other income increased by 67.91% to ¥5,382,904.13 driven by increased government subsidies[13]. - The company reported a non-operating income of CNY 1,306,120.00 during the reporting period[9]. Financial Expenses - Financial expenses decreased by 32.89% to ¥17,039,519.78 due to reduced interest expenses[13]. - The company incurred financial expenses of ¥15,649,801.63 in Q1 2021, a decrease of 32.9% from ¥23,362,350.92 in Q1 2020[31]. Credit and Impairment - Credit impairment losses surged by 127.33% to ¥16,408,896.96 as a result of reduced bad debt provisions[13].

Financial Performance - The company reported a net profit of -158,206,618.16 RMB for 2020, a significant decline compared to a net profit of 13,946,225.94 RMB in 2019, representing a decrease of 1,134.06%[5]. - Total revenue for 2020 was 1,879,479,861.89 RMB, down 30.60% from 2,708,096,161.11 RMB in 2019[21]. - Basic earnings per share for 2020 were -0.72 RMB, a decline from 0.06 RMB in 2019[22]. - The weighted average return on equity was -165.80% for 2020, compared to 8.37% in 2019[23]. - The net profit attributable to shareholders was a loss of approximately RMB 158.20 million for the year, with quarterly losses of RMB 36.80 million, RMB 2.54 million, RMB 48.83 million, and RMB 70.03 million respectively[25]. - The net profit attributable to the parent company was CNY -158 million, indicating a significant decline due to intensified price competition and reduced order quality[49]. - The company reported a net loss of ¥594,961,577.16 in 2020 compared to a net loss of ¥436,754,959.00 in 2019[179]. - The net loss for 2020 was approximately ¥157.42 million, compared to a net profit of ¥14.21 million in 2019, indicating a significant decline in profitability[186]. Cash Flow and Assets - The company's net cash flow from operating activities increased by 262.21% to 414,019,355.41 RMB, compared to 114,303,224.60 RMB in 2019[21]. - The cash flow from operating activities for 2020 was approximately ¥414.02 million, an increase from ¥114.30 million in 2019[194]. - Cash and cash equivalents increased by 68.42% to 532.497 million yuan, attributed to improved customer payments[65]. - The total assets decreased by 15.81% to 4,165,662,222.23 RMB at the end of 2020, down from 4,947,719,215.61 RMB in 2019[21]. - The total assets decreased from ¥4,947,719,215.61 in 2019 to ¥4,165,662,222.23 in 2020, a decline of approximately 15.7%[178]. - The cash and cash equivalents at the end of 2020 amounted to approximately ¥328.81 million, an increase from ¥133.52 million at the end of 2019[194]. - The total cash inflow from operating activities decreased to ¥1,967,594,581.16 in 2020 from ¥2,192,828,716.64 in 2019, reflecting a decline of about 10.3%[196]. Sales and Market Performance - The company sold 58,100 large and medium buses in 2020, representing a year-on-year decline of 23.34% and 32.04% respectively[29]. - The total bus sales in 2020 were 103,000 units, marking the lowest annual sales in a decade, significantly impacted by the COVID-19 pandemic[38]. - The company experienced a 47% decline in public road passenger transport volume in 2020, totaling 6.89 billion passengers[39]. - The export of large buses decreased by 32.10% to 12,200 units, while the export of medium buses fell by 49.38% to 2,900 units in 2020[39]. - The domestic market revenue fell by 54.06%, while the international market revenue increased by 2.51%[54]. Research and Development - The company has 133 R&D personnel, with over 32% holding senior technical titles, and has obtained 61 authorized patents and 6 software copyrights by the end of 2020[30]. - The company reported a 33.57% decrease in R&D expenses, totaling CNY 59 million, compared to CNY 89 million in the previous year[52]. - The total R&D expenditure was 59.022 million yuan, representing 3.14% of the operating revenue, with 306 R&D personnel, making up 17.44% of the total workforce[61]. - The company aims to enhance its core competitiveness by increasing product R&D efforts and integrating new energy resources[37]. Operational Efficiency - The company implemented a cost control strategy, resulting in a 23.76% reduction in operating costs, totaling CNY 1.702 billion[51]. - The gross margin for bus sales decreased by 7.35 percentage points to 10.01%[54]. - The total operating costs for 2020 were approximately ¥2.06 billion, down from ¥2.61 billion in 2019, reflecting a reduction of 17.5%[184]. Corporate Governance and Compliance - The company has committed to avoiding competition with its controlling shareholder's other businesses, with a commitment period lasting until October 2025[91]. - The company has established a long-term mechanism to prevent non-operating fund occupation by controlling shareholders[153]. - The independent directors actively participate in key company matters to protect the interests of minority shareholders[152]. - The company has not encountered any significant accounting errors that would require restatement of financial statements[95]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[96]. Environmental Responsibility - The company actively fulfills social responsibilities, focusing on safety production, product quality, environmental protection, and employee rights protection[106]. - The company reported actual COD emissions of 62 mg/L, significantly below the allowed limit of 500 mg/L, achieving a compliance rate of 87.6%[107]. - The company has implemented a wastewater treatment process involving coagulation and flotation, effectively treating various types of wastewater before discharge[109]. - The company has established a hazardous waste storage area compliant with GB18597-2001 standards, ensuring proper management of hazardous solid waste[113]. Future Outlook - The company aims for a revenue target of CNY 3 billion for 2021, which is the same as the unachieved target for 2020[83]. - The bus industry is expected to recover in 2021, with projected sales reaching over 150,000 units by 2025 due to market demand recovery and new vehicle replacement cycles[80]. - The company plans to focus on the development of new energy buses, particularly hydrogen fuel cell buses, which are expected to gain market traction and government support in 2021[80].