2018 年第一季度报告 公司代码：600213 公司简称：亚星客车 扬州亚星客车股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | 19,187.55 | | | 越权审批，或无正式批准文件，或 | | | | 偶发性的税收返还、减免 | | | | 计入当期损益的政府补助，但与公 | 749,800.00 | | | 司正常经营业务密切相关，符合国 | | | | 家政策规定、按照一定标准定额或 | | | 3 / 18 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末 增减(%) 总资产 4,390,277,424.13 4,714,786,922.77 -6.88 归属于上市公 ...

Financial Performance - The company achieved a net profit of ¥52,280,780.02 for the year 2017, with a net profit attributable to shareholders of ¥42,818,431.91, representing a decrease of 31.28% compared to the previous year[5]. - Total operating revenue for 2017 was ¥2,386,729,781.22, down 29.71% from ¥3,395,743,970.34 in 2016[21]. - The basic earnings per share for 2017 was ¥0.19, a decrease of 32.14% from ¥0.28 in 2016[22]. - The weighted average return on equity for 2017 was 28.17%, down 35.65 percentage points from 63.82% in 2016[22]. - The company reported a negative cash flow from operating activities of ¥240,140,596.54 for the year[21]. - The company did not propose any profit distribution or capital reserve transfer to shareholders for the year due to negative retained earnings[5]. - The company plans to carry forward the undistributed profits to the next fiscal year[5]. - The company aims for a revenue target of 2.92 billion RMB for 2018, down from the previous year's target of 3.8 billion RMB, which was not achieved[69]. Sales and Market Performance - In 2017, the company sold a total of 5,728 buses, generating revenue of RMB 2.387 billion, and net profit attributable to shareholders was RMB 42.82 million, reflecting a year-on-year decrease of 29.71% in revenue and 31.28% in net profit[36][38]. - The overall sales volume of the large and medium bus industry in China decreased by 5.69% in 2017, with a notable decline in new energy bus sales due to reduced government subsidies[30][37]. - The company sold 1,556 new energy buses in 2017, which became an important source of profit despite a year-on-year decline in sales[37]. - Domestic sales of large vehicles decreased by 20.06% year-on-year, totaling 3,642 units, while overseas sales increased by 102.38% to 765 units[56]. - Cumulative sales of pure electric vehicles fell by 59.81% to 1,176 units, and cumulative sales of hybrid vehicles decreased by 41.63% to 380 units, resulting in a total decline of 56.50% in new energy vehicle sales[59]. Operational Efficiency - The company's operating expenses decreased, with sales expenses down by 15.18% and management expenses down by 9.52% compared to the previous year[39]. - Research and development expenditure was RMB 63.78 million, a decrease of 11.28% from the previous year, indicating a continued commitment to innovation despite budget constraints[39]. - The cash flow from operating activities improved significantly, with a net cash outflow of RMB 240.14 million, a substantial improvement from the previous year's outflow of RMB 667.31 million[39]. - The company produced 5,791 buses and sold 5,728 buses, resulting in a production decrease of 3.92% and a sales decrease of 5.20% compared to the previous year[43]. Financial Position - The company's total assets decreased by 47.79% in cash and cash equivalents, amounting to ¥342,776,818.36, primarily due to a reduction in bank deposit guarantees[51]. - The company’s long-term borrowings increased by 653.04% to ¥1,477,309,174.00, attributed to procurement payment needs[51]. - The total assets as of December 31, 2017, amounted to CNY 4,714,786,922.77, an increase from CNY 4,646,087,405.44 at the beginning of the year[149]. - Current assets totaled CNY 4,399,962,535.62, compared to CNY 4,316,967,403.51 at the start of the year, reflecting a growth of approximately 1.9%[149]. - The company's cash and cash equivalents decreased to CNY 342,776,818.36 from CNY 656,506,503.31, representing a decline of about 47.9%[149]. Corporate Governance - The company has not faced any penalties from securities regulatory agencies in the past three years[114]. - The company maintains transparency in information disclosure, ensuring timely and accurate communication with shareholders[123]. - The board of directors and supervisory board comply with legal requirements regarding their composition and responsibilities[122]. - The company ensures that all shareholders, especially minority shareholders, have equal rights and can fully exercise their rights[121]. Risk Management - There were no significant operational risks reported during the year that could materially affect the company's operations[7]. - The company faces risks from market competition and potential demand decline due to alternative transportation modes like high-speed rail and air travel[70]. - The company did not report any major risks identified by the supervisory board during the reporting period[128]. Future Outlook - The company is focusing on improving product quality and has implemented a comprehensive quality management system, achieving certification for environmental and safety standards[32]. - The company is actively exploring overseas markets while primarily focusing on domestic sales, utilizing a direct sales model supplemented by distribution[30]. - The company plans to enhance its market share and customer satisfaction through a focus on new energy and international market expansion[68].

Financial Performance - Operating revenue decreased by 24.47% to CNY 1,339,159,634.85 compared to the same period last year[7] - Net profit attributable to shareholders decreased by 43.38% to CNY 24,561,712.35 compared to the same period last year[7] - Basic earnings per share decreased by 45.00% to CNY 0.11 compared to the same period last year[7] - The weighted average return on equity decreased by 31.99 percentage points to 17.23% compared to the same period last year[7] - Total operating revenue for Q3 2017 was ¥481,382,599.36, a decrease of 39.3% compared to ¥793,747,561.41 in Q3 2016[27] - Net profit for Q3 2017 was ¥13,152,982.74, a decline of 58.1% from ¥31,418,994.43 in Q3 2016[28] - Total revenue for Q3 2017 was approximately ¥360.58 million, a decrease from ¥705.68 million in Q3 2016, representing a decline of 48.9%[30] - Net profit for Q3 2017 was approximately ¥8.08 million, down from ¥26.81 million in Q3 2016, reflecting a decrease of 69.9%[32] - The company reported a total profit of approximately ¥9.50 million for Q3 2017, down from ¥30.63 million in Q3 2016, a decline of 69.0%[31] Assets and Liabilities - Total assets increased by 4.59% to CNY 4,859,180,128.65 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 20.36% to CNY 155,683,595.53 compared to the end of the previous year[7] - Cash and cash equivalents increased by 30.96% to ¥859,731,912.22, primarily due to received new energy subsidies[15] - Accounts receivable rose by 142.57% to ¥26,829,700.00, mainly from retained bills this period[15] - Other current assets increased by 63.54% to ¥124,387,367.33, attributed to an increase in input tax credits[15] - Long-term borrowings surged by 166.18% to ¥522,190,000.00, reflecting an increase in bank loans[15] - Total liabilities for Q3 2017 were ¥4,477,738,633.75, compared to ¥4,313,185,259.43 in Q3 2016, reflecting an increase of 3.8%[25] - The total owner's equity as of Q3 2017 was ¥150,418,975.96, an increase from ¥136,405,825.63 in Q3 2016[25] Cash Flow - Net cash flow from operating activities was CNY 339,365,364.67, a significant improvement from a negative CNY 93,360,193.49 in the same period last year[7] - Cash flow from operating activities for the first nine months of 2017 was approximately ¥1.32 billion, an increase from ¥779.39 million in the same period of 2016, representing a growth of 69.8%[34] - Total cash inflow from financing activities in Q3 2017 was CNY 856,858,787.78, up from CNY 533,147,336.68 in the prior year, marking a growth of about 60.7%[36] - Cash and cash equivalents at the end of Q3 2017 totaled CNY 413,975,210.91, significantly higher than CNY 73,089,603.71 at the end of Q3 2016[36] - The net cash flow from investing activities for Q3 2017 was CNY -11,573,940.31, worsening from CNY -9,250,176.45 in the same quarter last year[35] - The net increase in cash and cash equivalents for Q3 2017 was CNY 294,085,524.96, compared to a decrease of CNY -72,346,358.17 in Q3 2016[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 26,421[12] - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 51.00% of the shares[12] Government Subsidies - Government subsidies recognized in the current period amounted to CNY 583,432.33, totaling CNY 5,359,859.85 for the year-to-date[9] - Non-operating income rose by 135.71% to ¥6,124,760.23, primarily from increased government subsidies[15] Operational Efficiency - Financial expenses increased by 63.18% to ¥63,413,318.31, due to higher interest from increased loan scale[15] - Sales expenses for Q3 2017 were approximately ¥18.71 million, down from ¥23.01 million in Q3 2016, a reduction of 18.5%[31] - Financial expenses for Q3 2017 increased to approximately ¥19.02 million from ¥13.34 million in Q3 2016, an increase of 42.5%[31] Future Guidance - The company has not provided specific guidance for future performance or new product developments in the conference call[30]

Financial Performance - The company's operating revenue for the first half of 2017 was approximately RMB 857.78 million, a decrease of 12.40% compared to RMB 979.25 million in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2017 was approximately RMB 13.77 million, down 3.17% from RMB 14.22 million in the previous year[16]. - The company reported a decrease of 23.82% in net profit after deducting non-recurring gains and losses, amounting to approximately RMB 9.64 million compared to RMB 12.66 million in the previous year[16]. - The company reported a net loss of CNY 464,066,972.17 in retained earnings, an improvement from a loss of CNY 477,835,017.72[67]. - The company reported a net increase in equity of CNY 21,451,145.53 during the current period, driven by a comprehensive income of CNY 19,651,975.95 and other adjustments[89]. Cash Flow - The net cash flow from operating activities was RMB 269.87 million, a significant improvement from a negative cash flow of RMB 165.18 million in the same period last year[16]. - Cash received from sales of goods and services was CNY 920,711,558.61, significantly up from CNY 456,248,060.05 in the previous year, indicating strong cash flow growth[79]. - Operating cash inflow totaled CNY 944,489,051.62, an increase from CNY 462,930,064.36 in the previous period[80]. - The ending cash and cash equivalents balance was CNY 45,009,086.14, down from CNY 80,823,594.74 at the end of the previous period[81]. - The net increase in cash and cash equivalents was negative CNY 71,382,010.11, compared to a negative CNY 73,407,874.57 in the previous period[84]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 4.40 billion, a decrease of 5.20% from RMB 4.65 billion at the end of the previous year[16]. - Total current assets decreased from CNY 4,316,967,403.51 to CNY 4,085,212,261.59, a decline of approximately 5.34%[65]. - Total liabilities decreased from CNY 4,441,867,140.08 to CNY 4,178,995,583.23, a decline of about 5.91%[67]. - The company’s total assets decreased to CNY 4,199,262,038.63 from CNY 4,449,591,085.06, reflecting a contraction in asset base[71]. - Short-term borrowings decreased from CNY 1,168,449,042.51 to CNY 886,722,171.23, a reduction of approximately 24.06%[66]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 16,600[53]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, accounting for 51.00% of the total shares[55]. - The second-largest shareholder, Peng Weiyan, holds 9,890,000 shares, representing 4.50% of the total shares[55]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2017, with no dividends or stock bonuses declared[42]. Operational Efficiency - The company has implemented cost control measures and improved operational efficiency to adapt to market changes and enhance profitability[30]. - The company is leveraging financing leasing and other financing methods to support sales and improve cash flow[30]. - The company has increased its R&D expenditure by 20.62% to 20.76 million RMB, focusing on enhancing product quality and efficiency[33]. - The company is actively expanding its after-sales service network, with over 500 service points established domestically and internationally[26]. Market and Industry Outlook - The new energy bus market is expected to recover, with production showing significant month-on-month improvement despite a year-on-year decline[23]. - The company operates in the automotive industry, focusing on the development, manufacturing, and sales of buses and special vehicles[99]. Risks and Challenges - The company faces risks including substitution risk from other transportation modes, intensified market competition, and significant financial risks due to accumulated losses and high debt-to-asset ratio[40]. - There were no significant risks that materially affected the company's production and operations during the reporting period[4]. Legal and Compliance - The company has ongoing significant litigation matters related to a loan default of CNY 19.01 million dating back to 1997, which is currently under court proceedings[44]. - The company has entered into multiple loan agreements with its controlling shareholder, Weichai Yangzhou Company, totaling CNY 60 million, with extensions granted for repayment deadlines[48]. Accounting Policies - There were no significant changes in accounting policies or estimates compared to the previous accounting period[50]. - The company has not reported any major related party transactions during the reporting period[50]. - The company does not discount deferred tax assets and liabilities[193].

Financial Performance - Operating revenue increased by 92.89% to CNY 291,299,299.85 year-on-year[6] - Net profit attributable to shareholders was CNY 5,387,367.54, a significant recovery from a loss of CNY 13,133,152.81 in the same period last year[6] - Net cash flow from operating activities reached CNY 253,723,073.16, a turnaround from a negative cash flow of CNY -116,388,869.32 in the previous year[6] - The weighted average return on equity improved to 4.06% from -22.01% year-on-year[6] - Basic and diluted earnings per share were both CNY 0.02, recovering from a loss of CNY -0.06 in the same period last year[6] - The net profit for Q1 2017 was CNY 8,710,331.78, compared to a net loss of CNY 14,990,013.06 in Q1 2016, marking a turnaround[24] - The total profit for Q1 2017 was CNY 2,181,904.08, compared to a loss of CNY 11,159,065.57 in the same period last year[28] - The net profit for Q1 2017 was CNY 1,854,618.47, recovering from a loss of CNY 11,159,065.57 in Q1 2016[28] Assets and Liabilities - Total assets decreased by 7.03% to CNY 4,319,407,624.69 compared to the end of the previous year[6] - The total number of shareholders reached 16,402 by the end of the reporting period[10] - The total assets decreased to RMB 4,319,407,624.69 from RMB 4,646,087,405.44, reflecting a decline of 7.05%[16] - The total liabilities decreased to RMB 4,105,451,014.43 from RMB 4,441,867,140.08, a reduction of 7.59%[17] - Total assets as of March 31, 2017, were CNY 4,123,532,494.63, down from CNY 4,449,591,085.06 at the beginning of the year[21] - Total liabilities decreased to CNY 3,984,332,881.67 from CNY 4,313,185,259.43 at the start of the year, reflecting a reduction in short-term borrowings[21] - Current assets totaled CNY 3,780,175,869.31, a decrease of 7.9% from CNY 4,103,736,483.76 at the beginning of the year[20] Cash Flow - The company's cash and cash equivalents decreased to CNY 600,744,873.35 from CNY 613,298,987.91 at the beginning of the year[19] - The operating cash flow for Q1 2017 was CNY 253,723,073.16, a significant improvement from a negative cash flow of CNY -116,388,869.32 in Q1 2016[31] - Cash inflows from operating activities totaled CNY 605,027,221.67, compared to CNY 172,323,367.62 in the previous year, marking an increase of approximately 251%[31] - The cash outflows from operating activities were CNY 351,304,148.51, up from CNY 288,712,236.94 in Q1 2016[31] - The net cash flow from financing activities was negative CNY 267,589,838.21, compared to a negative CNY 13,500,621.21 in the same period last year[32] - The ending cash and cash equivalents balance was CNY 102,848,962.55, down from CNY 15,146,889.01 in Q1 2016[32] Shareholder Information - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 51.00% of the shares[10] Government Support - The company received government subsidies amounting to CNY 3,955,126.79 during the reporting period[7] - The company recorded a 251.84% increase in non-operating income, amounting to RMB 4,140,730.61, primarily from government subsidies[12] Other Financial Metrics - Accounts receivable decreased by 10.36% to RMB 2,921,826,777.02 from RMB 3,258,072,494.86[15] - The company reported a 56.69% increase in advance payments, totaling RMB 61,931,095.60, up from RMB 39,523,380.89[12] - The company's financial expenses increased by 88.93% to RMB 20,582,025.95 due to a rise in loan interest expenses[12] - The construction in progress decreased by 48.30% to RMB 1,625,521.30 from RMB 3,143,932.64, attributed to the transfer of assets to fixed assets[12] - The company received tax refunds of CNY 5,111,746.25 in Q1 2017, compared to CNY 2,986,905.88 in the previous year[31] - The cash outflow for investing activities was CNY 4,430,569.52, compared to CNY 363,966.10 in Q1 2016, indicating increased investment activity[31]

Financial Performance - The company achieved a net profit of ¥65,249,615.91 for the year 2016, with a net profit attributable to shareholders of ¥62,307,778.22, representing a 208.51% increase compared to 2015[3]. - Total revenue for 2016 was ¥3,395,743,970.34, marking a 68.49% increase from ¥2,015,439,742.15 in 2015[20]. - The net profit attributable to the parent company reached CNY 62.31 million, representing a significant year-on-year growth of 208.51%[37]. - Basic earnings per share for 2016 were ¥0.28, up 211.11% from ¥0.09 in 2015[21]. - Operating profit for 2016 was ¥123,029,771.59, up from ¥14,660,560.96 in 2015, indicating a substantial improvement in operational efficiency[151]. - Net profit for the year was ¥65,249,615.91, compared to ¥15,792,237.58 in the previous year, reflecting a growth of approximately 313%[151]. - The company reported a net loss of CNY 477,835,017.72 for the year, an improvement from a loss of CNY 540,142,795.94 in the previous year[146]. Assets and Liabilities - The company's total assets increased by 72.87% to ¥4,646,087,405.44 at the end of 2016, compared to ¥2,687,668,407.29 at the end of 2015[20]. - The total liabilities amounted to ¥4,313,185,259.43, up from ¥2,473,796,728.02, reflecting a growth of 74%[149]. - The company's current liabilities totaled CNY 4,204,873,179.37, up from CNY 2,101,256,348.57, suggesting a rise in short-term financial obligations[145]. - The company's accounts receivable increased to approximately CNY 3.26 billion, a growth of 96.95% compared to the previous period[55]. - The total inventory increased to CNY 193,784,268.13 from CNY 156,256,037.19, reflecting changes in production or sales strategy[144]. Cash Flow - The company reported a negative cash flow from operating activities of ¥667,309,516.43 for the year[20]. - Operating cash flow net amount was -¥667,309,516.43, primarily due to increased sales and delayed receipt of new energy subsidies[52]. - Cash inflow from financing activities reached ¥1,199,229,000.00, a significant increase of 52% compared to ¥788,854,197.32 in the previous period[161]. - Net cash flow from financing activities improved to ¥646,003,901.46, up from ¥218,516,901.53 in the previous period[161]. Sales and Market Performance - In 2016, the company achieved total bus sales of 6,042 units, generating revenue of CNY 3.396 billion, a year-on-year increase of 68.49%[35]. - The total sales volume of large vehicles reached 4,934 units, a year-on-year increase of 97.83%[59]. - The total sales volume of new energy vehicles (NEVs) was 3,577 units, representing a 135.17% increase compared to the previous year[63]. - The company sold 3,577 new energy buses in 2016, which became a key profit growth point due to high market recognition and user satisfaction[36]. Research and Development - The company invested CNY 71.89 million in R&D, an increase of 49.40% from the previous year[40]. - The total R&D investment amounted to ¥71,885,886.90, representing 2.12% of total revenue, with 189 R&D personnel, accounting for 10.12% of the total workforce[50]. - Research and development expenses increased by 30%, totaling 150 million, focusing on advanced battery technology[115]. Corporate Governance and Shareholder Information - The company appointed Shandong Hexin Accounting Firm as the auditor for the 2016 financial report and internal control audit, with a one-year term[87]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, representing 51.00% of the total shares[100]. - The total number of ordinary shareholders at the end of the reporting period was 14,667, down from 16,402 at the end of the previous month[98]. - The company ensures equal rights for all shareholders, particularly minority shareholders, in accordance with its articles of association[127]. Strategic Focus and Future Plans - The company plans to focus on new energy buses, which are expected to see continuous growth in the coming years, driven by national policies[72]. - The company aims to enhance its overseas market presence, particularly in developing countries, as part of its strategic focus[71]. - The company has established a performance evaluation and incentive mechanism for senior management, linking their performance to operational responsibilities and risks[128]. Operational Risks and Challenges - The company faced no significant operational risks that could materially affect its business during the reporting period[6]. - The company faces risks from market competition and alternative transportation methods, which may lead to a decline in market demand[74]. - The company has a high asset-liability ratio and significant cash flow pressure due to accumulated losses and high accounts receivable[74]. Compliance and Reporting - The company maintains transparency in information disclosure, ensuring timely and accurate communication with shareholders[129]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[183]. - The financial statements reflect the company's financial position as of December 31, 2016, and its operational results for the year[183].

Financial Performance - Operating revenue for the first nine months reached CNY 1,772,995,928.95, an increase of 83.68% year-on-year[6] - Net profit attributable to shareholders was CNY 43,382,150.22, a significant recovery from a loss of CNY 76,961,173.82 in the same period last year[6] - Basic and diluted earnings per share improved to CNY 0.20 from a loss of CNY -0.35 in the same period last year[7] - The company expects a net profit attributable to shareholders for 2016 to range between ¥60 million and ¥80 million, representing a change of 197% to 296% compared to the previous year[16] - The company reported a net loss of ¥496,760,645.72, an improvement from a loss of ¥540,142,795.94 at the beginning of the year[22] - The net profit for the first nine months was CNY 46,239,215.67, a recovery from a net loss of CNY 80,450,354.72 in the previous year[29] - The company reported a gross profit of CNY 50,242,768.44 for the first nine months, compared to a loss of CNY 82,558,771.97 in the same period last year[29] - Net profit for Q3 2016 was ¥26,811,123.10, compared to a net loss of ¥34,233,096.60 in Q3 2015, marking a turnaround in profitability[32] - The total profit for Q3 2016 was ¥30,630,579.99, a recovery from a loss of ¥34,233,096.60 in Q3 2015[32] Assets and Liabilities - Total assets increased by 31.10% to CNY 3,523,548,893.34 compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 67.46% to CNY 110,367,027.13 compared to the end of the previous year[6] - Total liabilities increased to CNY 3,255,814,124.60 from CNY 2,473,796,728.02, reflecting a 31.6% rise[28] - Total current assets as of September 30, 2016, amounted to ¥3,192,476,401.03, up from ¥2,345,842,141.81 at the beginning of the year, representing a growth of approximately 36.1%[20] - Total liabilities increased to ¥3,338,439,661.15 from ¥2,549,986,348.57, marking a growth of around 31%[22] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -93,360,193.49, compared to CNY -15,883,768.88 in the previous year, indicating a worsening cash flow situation[6] - The net cash flow from operating activities showed a significant decline of 487.77%, amounting to -¥93,360,193.49, mainly due to delayed new energy subsidies[16] - The net cash flow from operating activities for the first nine months was CNY -43,910,032.06, compared to CNY -18,779,607.15 in the previous year, indicating a decline[37] - Total cash inflow from operating activities was CNY 649,006,699.49, down from CNY 854,400,682.87 year-over-year, representing a decrease of approximately 24%[37] - The net cash flow from investing activities was CNY -57,194,310.80, compared to CNY -1,724,175.33 in the previous year, showing a significant increase in cash outflow[37] Shareholder Information - The total number of shareholders reached 14,574, indicating a stable shareholder base[11] - The largest shareholder, Weichai (Yangzhou), holds 51.00% of the shares, reflecting significant ownership concentration[11] Operational Highlights - The company experienced a significant increase in sales volume due to expanded sales channels and improved product quality[17] - The proportion of high-profitability products in the product mix has been continuously increasing, enhancing overall profitability[17] - The company has implemented cost reduction and efficiency improvement activities, effectively controlling costs and expenses[17] - The company is focused on expanding its market presence and enhancing product development capabilities[17] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[27] Government Support and Other Income - The company received government subsidies amounting to CNY 1,606,298.81 during the reporting period, which is crucial for operational support[8] - The company reported a total of CNY 479,205.11 in non-operating income for the first nine months, contributing positively to the overall financial performance[10]

Financial Performance - The company's operating revenue for the first half of 2016 was ¥979,248,367.54, representing a 53.42% increase compared to ¥638,296,781.60 in the same period last year[16]. - The net profit attributable to shareholders was ¥14,219,198.00, a significant recovery from a loss of ¥41,145,882.84 in the previous year[16]. - The basic earnings per share for the first half of 2016 was ¥0.06, compared to a loss of ¥0.19 in the same period last year[17]. - The weighted average return on net assets was 19.32%, a significant improvement from -165.60% in the previous year[18]. - The company reported a total profit of ¥17,566,315.16, compared to a total loss of ¥43,146,824.64 in the previous year[76]. - The net profit for the period was ¥14,820,221.24, recovering from a net loss of ¥43,146,824.64 in the prior year[76]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥165,180,631.46, slightly worse than -¥161,057,245.44 in the same period last year, indicating a 2.56% decline[16]. - Cash flow from operating activities was ¥456,248,060.05, a decrease from ¥508,961,293.95 in the same period last year[81]. - The net cash flow from financing activities was 105,718,454.96 RMB, a decrease from 117,412,359.08 RMB in the previous period, indicating a decline in financing effectiveness[83]. - The total cash outflow from operating activities was 628,110,695.82 RMB, compared to 683,016,646.95 RMB in the previous period, showing a reduction in cash outflows[82]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,060,441,519.14, up 13.87% from ¥2,687,668,407.29 at the end of the previous year[16]. - Current assets totaled ¥2,725,756,785.44, up from ¥2,345,842,141.81, indicating an increase of about 16.2%[69]. - Total liabilities reached ¥2,906,647,573.44, compared to ¥2,549,986,348.57, representing a growth of about 14%[71]. - Long-term borrowings increased to ¥544,330,000.00 from ¥448,030,000.00, reflecting a rise of approximately 21.5%[70]. Sales and Market Performance - In the first half of 2016, the company sold a total of 1,636 buses, a year-on-year decrease of 6%[24]. - The company's sales revenue reached RMB 979.25 million, an increase of 53.4% compared to the same period last year[24]. - Sales of new energy buses surged to 1,146 units, a remarkable increase of 718% year-on-year[24]. - The market share of new energy buses reached 11%, up 5 percentage points from the previous year[23]. - Domestic sales revenue increased by 60.62% to RMB 833.96 million, while international sales grew by 23.28% to RMB 141.71 million[32]. Shareholder Information - The total number of shareholders as of the end of the reporting period is 18,482[56]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 112,200,000 shares, representing 51.00% of the total shares[58]. - The second-largest shareholder, Peng Weiyan, increased holdings by 2,135,300 shares, now holding 2,135,300 shares, which is 0.97%[58]. Strategic Direction and Development - The company has not made any significant changes to its strategic direction or product development plans during this reporting period[2]. - The company aims to achieve sales revenue of over RMB 2.5 billion for the full year 2016[27]. - The company plans to expand its market presence and invest in new product development to drive future growth[100]. Accounting and Compliance - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position and operating results[107]. - The company has established specific accounting policies and estimates based on its production and operational characteristics[106]. - The company’s financial statements are prepared on a continuous operation basis, indicating no significant issues affecting its ongoing operations[105]. Research and Development - Research and development expenses rose by 36.12% to RMB 17.21 million, reflecting the company's commitment to product innovation[26]. - The company has developed 23 new products in collaboration with Weichai (Yangzhou) Company, with an investment of RMB 30 million from the shareholder[46]. Risk Management and Reserves - The company reported a decrease in retained earnings by CNY 540,142, resulting in a total of CNY 71,776,241.04[89]. - The total amount of special reserves at the end of the period was CNY 1,291,665.74, with an increase of CNY 1,197,278.27 during the current period[91]. - The company recognizes liabilities for termination benefits when a formal plan is in place and cannot be withdrawn[182].

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2016 年第一季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 2016 年第一季度报告 公司代码：600213 公司简称：亚星客车 扬州亚星客车股份有限公司 2016 年第一季度报告 1 / 18 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末 | | --- | --- | --- | --- | | | | | 增减(%) | | 总资产 | 2,547,601,973.93 | 2,687,668,407.29 | -5.21 | | 归属于上市公司股东的净资产 | 53,421,061.34 | 65,905,817.68 | -18.94 | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的现金流量净额 | -116,388,869.32 | -92,556,563.33 | 不适用 ...

Financial Performance - The company achieved a net profit of ¥20,196,318.06 in 2015, a significant recovery from a net loss of ¥144,937,044.97 in 2014, marking an improvement of over 113%[2]. - Total revenue for 2015 was ¥2,015,439,742.15, representing a year-on-year increase of 36.81% compared to ¥1,473,146,585.57 in 2014[17]. - The company's total assets increased by 24.11% to ¥2,687,668,407.29 at the end of 2015, up from ¥2,165,614,551.87 in 2014[17]. - The net asset attributable to shareholders rose by 46.32% to ¥65,905,817.68 at the end of 2015, compared to ¥45,041,527.36 at the end of 2014[17]. - The basic earnings per share for 2015 was ¥0.09, a recovery from a loss of ¥0.66 per share in 2014[18]. - The company reported a negative cash flow from operating activities of ¥186,823,291.13 in 2015, although this was an improvement from a negative cash flow of ¥303,427,095.51 in 2014[17]. - The weighted average return on net assets was 36.41% in 2015, a significant recovery from -123.11% in 2014[18]. - The company reported a total comprehensive income of CNY 15,792,237.58, a turnaround from a comprehensive loss of CNY 144,768,832.98 in 2014[152]. - The net profit for 2015 amounted to CNY 25,016,198.92, compared to a net loss of CNY -145,115,876.50 in the previous year, indicating a significant turnaround in performance[155]. Sales and Revenue - In 2015, the company achieved total bus sales of 4,492 units, generating revenue of CNY 2.015 billion, with a net profit attributable to shareholders of CNY 20.2 million[32]. - The company's revenue increased by 36.81% compared to the previous year, while operating costs rose by 25.64%[36]. - The company sold 1,521 units of new energy buses, which became a significant profit growth point due to their quality and performance recognition in the market[32]. - Revenue from the mechanical manufacturing industry reached CNY 1,978,982,460.69, with a year-on-year increase of 35.30% and a gross margin of 14.23%, which is an increase of 6.52 percentage points[37]. - Bus sales generated CNY 1,967,493,855.39 in revenue, reflecting a year-on-year increase of 35.90% and a gross margin of 14.37%, up by 6.52 percentage points[37]. - Domestic revenue amounted to CNY 1,729,608,158.47, showing a significant year-on-year increase of 52.15% and a gross margin of 14.50%, which is an increase of 10.00 percentage points[37]. Assets and Liabilities - The company's total liabilities reached CNY 2,549,986,348.57, up from CNY 2,044,602,688.36, indicating a rise of about 25%[145]. - Current assets totaled CNY 2,345,842,141.81, compared to CNY 1,808,481,961.02 at the start of the year, reflecting an increase of approximately 30%[144]. - The accounts receivable increased to CNY 1,654,261,774.93 from CNY 1,224,434,586.31, marking a growth of around 35%[144]. - The company's cash and cash equivalents rose to CNY 426,083,667.86 from CNY 328,485,146.40, which is an increase of about 30%[144]. - The total equity attributable to shareholders of the parent company was CNY 65,905,817.68, up from CNY 45,041,527.36, showing an increase of approximately 46%[146]. Operational Efficiency - The company completed 53 process improvements, enhancing labor efficiency and reducing manufacturing costs[32]. - Research and development expenses amounted to CNY 48.1 million, reflecting a 14.45% increase from the previous year[36]. - The production volume of buses was 4,461 units, with a sales volume of 4,492 units, indicating a year-on-year increase of 9.18% in production and 8.45% in sales[38]. - The total hours of outsourced labor amounted to 897,463 hours, with total payments for outsourced labor reaching CNY 22,436,570[119]. Strategic Focus - The company focused on transforming its strategy towards new energy buses, responding to the rapid growth in market demand[32]. - The company aims to enhance its market share and customer satisfaction through a focus on new energy vehicles and international market expansion[63]. - The company is collaborating with Weichai Yangzhou Company to develop 23 new products, with the company investing RMB 5 million and Weichai investing RMB 30 million[80]. Corporate Governance - The company has a strong leadership team with extensive experience in the automotive industry, including positions at major companies like Weichai Power and Yaxing Bus[105]. - The board of directors has undergone a restructuring process in accordance with the Company Law and the company's articles of association[106]. - The company is committed to maintaining transparency and accountability in its operations through regular board meetings and evaluations[106]. - The independent auditor issued a standard unqualified opinion on the internal control report, indicating no major issues were found[133]. - The company actively respects and protects the rights of stakeholders, including creditors, employees, customers, and suppliers[123]. Employee and Training - The total number of employees in the parent company is 1,453, and the total number of employees in major subsidiaries is 332, resulting in a combined total of 1,785 employees[116]. - The company will implement a training plan for 2016, targeting management, technical, and marketing personnel, with a minimum of 80 hours of training per employee[118]. - The company has established a remuneration policy based on its salary management system, ensuring that the compensation for directors and supervisors is approved by the shareholders' meeting[111]. Risks and Challenges - The company has acknowledged various industry risks in its report and has outlined potential strategies to address these risks[4]. - The company faces risks from market competition and potential demand shrinkage due to alternative transportation modes like high-speed rail and air travel[65].