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].

Financial Performance - Operating revenue for the first nine months was CNY 965,238,038.40, representing a year-on-year increase of 6.32%[7] - Net profit attributable to shareholders was a loss of CNY 76,961,173.82, compared to a loss of CNY 77,179,598.95 in the same period last year[7] - The net cash flow from operating activities for the first nine months was a negative CNY 15,883,768.88, improving from a negative CNY 211,766,604.49 in the previous year[7] - The weighted average return on equity was -1,137.11%, significantly lower than -50.91% in the previous year[7] - Total operating revenue for Q3 2015 was CNY 326,941,256.80, a decrease of 17.5% compared to CNY 397,165,728.11 in Q3 2014[28] - The net loss for the first nine months of 2015 reached CNY 80,450,354.72, compared to a loss of CNY 77,046,674.20 in the same period of 2014[29] - Total revenue for the first nine months of 2015 reached 876,602,864.21 CNY, up from 769,382,325.86 CNY in the same period last year, representing an increase of approximately 13.9%[32] - The company's total comprehensive income for Q3 2015 was -34,233,096.60 CNY, compared to -23,105,518.83 CNY in Q2 2015, reflecting ongoing financial difficulties[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,141,677,190.78, a decrease of 1.11% compared to the end of the previous year[7] - The company's total assets as of September 30, 2015, were CNY 1,999,163,437.02, a slight decrease from CNY 2,016,522,009.89 at the beginning of the year[26] - The total liabilities increased to CNY 2,028,345,694.91 from CNY 1,972,909,138.09 at the beginning of the year, reflecting a rise of 2.8%[26] - Current liabilities decreased slightly to RMB 1,648,451,322.45 from RMB 1,659,772,688.36, indicating stable short-term financial obligations[22] - Long-term borrowings increased to RMB 451,460,000.00 from RMB 384,030,000.00, reflecting a strategic move to secure additional financing[22] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,281[12] - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., held 51.00% of the shares[12] Cash Flow - Cash flow from financing activities decreased by 71.89% to RMB 31,315,273.31, primarily due to increased repayment of bank loans[16] - Cash inflow from financing activities totaled CNY 407,858,119.32, slightly up from CNY 403,464,875.00 in the previous year[39] - Net cash flow from financing activities was CNY 38,821,662.50, down 68.2% from CNY 121,903,916.36 in the same period last year[39] - Cash and cash equivalents at the end of the period amounted to CNY 117,653,223.59, compared to CNY 53,811,899.20 at the same time last year[42] Operational Metrics - Accounts receivable decreased to zero from RMB 15,874,000, a 100% reduction due to full endorsement of customer acceptances for payment[15] - Prepaid accounts increased by 59.14% to RMB 49,547,930.88, primarily due to an increase in advance payments for materials[15] - Inventory rose by 45.18% to RMB 253,710,748.10, mainly due to an increase in stock of finished goods[15] - Accounts payable increased by 31.34% to RMB 737,963,702.85, attributed to higher production leading to increased procurement[16] - The company reported a 168.02% increase in business taxes and additional charges to RMB 961,155.74, driven by higher sales of vehicles under 7 meters[16] - Financial expenses rose by 35.59% to RMB 22,845,953.90, mainly due to an increase in loan scale compared to the same period last year[16] Non-Recurring Items - The company reported non-recurring gains of CNY 885,491.38 for the current period, with a total of CNY 2,108,417.25 for the year-to-date[9] - The company reported a total of 2,258,824.34 CNY in non-operating income for the first nine months of 2015, a significant decrease from 68,914,628.11 CNY in the same period last year, indicating reduced asset disposals[33]

Financial Performance - The company's operating revenue for the first half of 2015 was RMB 638.30 million, an increase of 24.98% compared to RMB 510.73 million in the same period last year[15]. - The net profit attributable to shareholders was a loss of RMB 41.15 million, an improvement from a loss of RMB 55.23 million in the previous year[15]. - The company sold 1,647 buses, representing a year-on-year growth of 16.40%[18]. - The sales revenue from buses reached RMB 578.84 million, up 30.53% year-on-year[18]. - The net cash flow from operating activities was a negative RMB 161.06 million, an improvement from a negative RMB 218.81 million in the same period last year[15]. - The company plans to achieve sales revenue of over RMB 1.8 billion for the full year 2015[22]. - The gross margin for parts sales was 0.74%, with a year-on-year increase of 3.55 percentage points, indicating improved profitability in this segment[24]. - The company reported a net loss of CNY 601,484,996.84, compared to a loss of CNY 560,339,114.00 at the beginning of the period[64]. - The company reported a gross profit margin of approximately 6.5% for the first half of 2015, down from the previous year's margin[70]. - Basic and diluted earnings per share for the first half of 2015 were both CNY -0.19, an improvement from CNY -0.25 in the same period last year[72]. Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 2.19 billion, a slight increase of 1.35% from RMB 2.17 billion at the end of the previous year[15]. - Total current assets as of June 30, 2015, amounted to CNY 1,848,676,352.77, an increase from CNY 1,808,481,961.02 at the beginning of the period, reflecting a growth of approximately 2.5%[62]. - Total liabilities as of June 30, 2015, were CNY 2,116,238,963.24, up from CNY 2,044,602,688.36, marking an increase of about 3.5%[64]. - The company's total equity decreased to CNY 78,701,834.99 from CNY 121,011,863.51, reflecting a decline of approximately 35%[64]. - Short-term borrowings increased to CNY 434,239,276.48 from CNY 368,883,664.60, representing a rise of about 17.7%[63]. Market and Product Development - The company is focusing on product innovation and cost control measures to enhance efficiency and competitiveness in the market[18]. - The company has established a "5+1" product platform, enhancing product reliability, economy, and comfort, while building a competitive product system in terms of cost, core technology, and quality[27]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic investments and partnerships[27]. Cash Flow and Financing - Cash flow from operating activities resulted in a net outflow of ¥161,057,245.44, an improvement from a net outflow of ¥218,809,412.02 in the previous period[78]. - Cash flow from financing activities generated a net inflow of ¥117,412,359.08, an increase from a net inflow of ¥90,662,241.97 in the previous period, reflecting improved financing conditions[78]. - The total cash and cash equivalents at the end of the period stood at ¥82,477,302.40, compared to ¥53,767,236.31 at the end of the previous period, showing a significant increase[79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,792[52]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., holds 51% of the shares, totaling 112,200,000 shares[54]. Corporate Governance - The company renewed the appointment of its accounting firm for the 2015 financial year[46]. - The company has undergone a change in its board of directors, with several members being elected and others resigning due to term expiration[58]. Compliance and Accounting Policies - The company’s financial statements are prepared based on the assumption of going concern, indicating no significant issues affecting its ability to continue operations[102]. - The company’s financial reports comply with the requirements of enterprise accounting standards, reflecting its financial status and operating results accurately[104]. - The company has made a retrospective adjustment to its accounting policy regarding long-term equity investments, now classified as available-for-sale financial assets[188]. Taxation and Incentives - The company continues to enjoy a preferential corporate income tax rate of 15% as a high-tech enterprise, valid for three years from October 31, 2014[190]. - The company has been recognized as a high-tech enterprise, allowing it to benefit from tax incentives, including exemption from value-added tax and consumption tax for exported goods produced within the export processing zone[190].

Financial Performance - Operating revenue for the period was CNY 282,914,144.91, representing an increase of 28.64% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 10,849,781.55, compared to a loss of CNY 28,466,124.04 in the same period last year [7]. - Basic and diluted earnings per share were both -CNY 0.04, improving from -CNY 0.13 in the same period last year [7]. - Operating profit for Q1 2015 was a loss of CNY 12,234,252.52, an improvement from a loss of CNY 30,639,709.63 in Q1 2014 [25]. - Net profit for Q1 2015 was a loss of CNY 11,182,690.87, compared to a loss of CNY 29,836,349.98 in the same quarter last year [25]. - The net profit for the current period is a loss of CNY 8,188,582.02, improving from a loss of CNY 25,351,956.34 in the previous period [27]. Cash Flow - The net cash flow from operating activities was a negative CNY 92,556,563.33, an improvement from a negative CNY 97,602,395.12 in the previous year [7]. - The total cash outflow from operating activities is CNY 306,413,340.86, which is slightly higher than CNY 305,324,701.03 in the previous period [30]. - Cash flow from financing activities decreased by 56.98% to RMB 14,749,677.64, attributed to a reduction in new loans during the period [12]. - The cash flow from financing activities shows a net increase of CNY 14,749,677.64, compared to CNY 34,286,979.43 in the previous period, indicating a decrease of 57.0% [31]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,156,084,513.46, a decrease of 0.44% compared to the end of the previous year [7]. - The company's total liabilities increased marginally from RMB 2,044,602,688.36 to RMB 2,045,715,582.75, indicating stable leverage levels [17]. - The company's equity attributable to shareholders decreased from RMB 45,041,527.36 to RMB 35,695,922.47, reflecting a decline in retained earnings [17]. - The company's total assets decreased to CNY 2,014,091,062.36 from CNY 2,016,522,009.89, a decline of 0.1% [21]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,120 [10]. - The largest shareholder, Weichai (Yangzhou) Yaxing Automobile Co., Ltd., held 51.00% of the shares [10]. Operational Metrics - Non-operating income for the period totaled CNY 1,051,561.65, including CNY 721,413.12 from the disposal of non-current assets [9]. - The company reported a government subsidy of CNY 200,000 related to its normal business operations [9]. - Accounts receivable increased significantly, leading to an asset impairment loss of RMB 4,054,138.63, a 156.15% increase compared to the previous period [11]. - Financial expenses rose by 56.83% to RMB 7,713,877.50, primarily due to increased bank loans and interest expenses [11]. - The construction in progress decreased by 54.66% from RMB 9,811,803.75 to RMB 4,449,011.49, primarily due to the capitalization of new plant equipment [11]. - The company reported a significant reduction in tax payable by 64.96%, from RMB 42,162,645.21 to RMB 14,775,095.20, mainly due to a decrease in value-added tax [11]. Inventory and Receivables - Cash and cash equivalents decreased by 31.07% from RMB 328,485,146.40 to RMB 226,421,941.21 due to increased accounts receivable and operational cash expenditures [11]. - Accounts receivable increased to CNY 1,268,478,057.48 from CNY 1,192,973,868.47, reflecting a growth of 6.3% [19]. - Inventory rose to CNY 153,035,313.12, up 17.2% from CNY 130,463,103.29 at the beginning of the year [19].

Financial Performance - The company reported a net profit of -144,937,044.97 RMB for 2014, a significant decline compared to a net profit of 5,243,770.76 RMB in 2013[3]. - Operating revenue for 2014 was 1,473,146,585.57 RMB, representing a 21.93% increase from 1,208,216,304.58 RMB in 2013[26]. - The net cash flow from operating activities was -303,427,095.51 RMB, worsening from -35,247,310.03 RMB in the previous year[26]. - The company's net profit attributable to shareholders was -144.94 million RMB, compared to a profit of 5.24 million RMB in the previous year[31]. - The company reported a net loss of CNY 560,339,114.00 for the year, compared to a loss of CNY 415,402,069.03 in the previous year, indicating a worsening of approximately 34.8%[146]. - The company reported a net loss of CNY 144,768,832.98 for 2014, compared to a net profit of CNY 5,628,967.32 in the previous year[150]. - The company's net profit margin was negatively impacted, with a comprehensive loss of -144,937,044.97 RMB reported for the year[159]. Assets and Liabilities - The total assets increased to 2,165,614,551.87 RMB, up 18.89% from 1,821,523,230.41 RMB in 2013[26]. - The company's total liabilities reached CNY 2,044,602,688.36, up from CNY 1,555,650,412.89, indicating an increase of about 31.4%[146]. - The total equity attributable to shareholders of the parent company decreased to CNY 45,041,527.36 from CNY 190,415,115.05, reflecting a decline of approximately 76.3%[146]. - The total current assets amounted to CNY 1,808,481,961.02, an increase from CNY 1,405,405,978.83, representing a growth of about 28.6%[145]. - Non-current assets totaled CNY 357,132,590.85, down from CNY 416,117,251.58, reflecting a decrease of approximately 14.2%[145]. - The company's total liabilities increased to CNY 1,972,909,138.09 from CNY 1,476,923,458.65, representing a rise of about 34%[148]. Sales and Revenue - In 2014, the company sold 3,822 buses, a year-on-year decrease of 2.85%, while its subsidiary Fengtai Auto sold 320 buses, an increase of 22.14%[31]. - The company's total sales revenue reached 1,284.96 million RMB, a year-on-year increase of 20.57%[31]. - The revenue from domestic sales was 1,136.79 million RMB, a year-on-year increase of 24.29%, while international sales reached 325.83 million RMB, up 13.68%[46]. - The sales revenue from new energy buses was 181.80 million RMB, representing a year-on-year growth of 93.97%[35]. Operating Expenses - The company's operating expenses increased, with sales expenses rising by 35.73% to 100.71 million RMB and management expenses increasing by 44.87% to 92.48 million RMB[40]. - Total operating costs amounted to 1,633,677,411.97 RMB, up from 1,253,750,353.99, reflecting a 30% increase year-over-year[150]. Research and Development - The company’s total R&D expenditure was 42.04 million RMB, accounting for 2.85% of total revenue[41]. - The company has accelerated the R&D and improvement of new products, forming a "5+1" product platform, enhancing reliability, economy, and comfort, while establishing a competitive product system in terms of cost, core technology, and quality[48]. Financing and Investments - The company requires approximately CNY 600 million to maintain current operations and complete ongoing investment projects, and plans to innovate financing strategies[55]. - The company received a loan of 60 million yuan from its controlling shareholder, Weichai Yangzhou Company, through entrusted loans, with multiple extensions leading to a new maturity date of July 29, 2015[67]. - The company signed a product cooperation development agreement with Weichai (Yangzhou) Yaxing Automobile Co., Ltd. to develop 23 new products, with an investment of 30 million yuan from the shareholder[68]. Governance and Compliance - The company has not received any penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[77]. - The company has retained Shandong Hexin Accounting Firm for the 2014 financial report and internal control audit, with an audit fee of 30 million RMB[76]. - The company’s governance structure complies with the requirements of the "Code of Corporate Governance for Listed Companies" and ensures equal rights for all shareholders[118]. - The board of directors and supervisory board are composed in accordance with legal and regulatory requirements, ensuring responsible attendance and participation in meetings[3][4]. Employee and Management - The total number of employees in the parent company is 1,408, and the total number of employees in major subsidiaries is 340, resulting in a combined total of 1,748 employees[110]. - The company has implemented a training plan for 2015, targeting various employee categories with a minimum of 80 hours of training per person[112]. - The company’s management team has undergone changes, with new appointments for CEO and general manager positions[108]. Market Conditions - The bus market is expected to maintain low-speed growth, with an estimated 4% increase in sales of buses over 6 meters in 2015[52]. - The company has faced market risks due to slowing industry growth and high competition, impacting its ability to secure quality orders and maintain product margins[56]. Future Outlook - The company aims to achieve sales revenue of over CNY 1.8 billion in 2015, ensuring profitability[54]. - The company plans to optimize its product platforms and improve production quality while reducing costs and enhancing efficiency through lean production initiatives[53].

2014 年第三季度报告 扬州亚星客车股份有限公司 2014 年第三季度报告 1 / 21 | 目录 | | --- | | 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 | 10 | 2014 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员应当保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 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 | 1,724,990,292.04 | 1,821,523,230.41 | -5.30 | | 归属于上市公司股 | 112,757,483.61 | 190,415,115.05 | -40.78 | | 东的净资产 | | ...