2022 年第一季度报告 证券代码：600262 证券简称：北方股份 内蒙古北方重型汽车股份有限公司 2022 年第一季度报告 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。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 528,230,296.08 | 94.32 | | 归属于上市公司股东的净利润 | 28,819,415.75 | 65.04 | | 归属于上市公司股东的扣除非经常性 | 27,607,481.36 | 59.02 | ...

Financial Performance - The company's operating revenue for 2021 was CNY 1,645,903,602.38, representing an increase of 18.55% compared to CNY 1,388,383,103.51 in 2020[22] - The net profit attributable to shareholders of the listed company was CNY 93,189,248.02, a 42.60% increase from CNY 65,348,798.10 in the previous year[22] - The basic earnings per share for 2021 was CNY 0.55, up 44.74% from CNY 0.38 in 2020[23] - The net cash flow from operating activities was CNY 96,610,623.36, a 4.66% increase from CNY 92,313,320.32 in 2020[22] - The company reported a net profit of CNY -3,498,160.94 after deducting non-recurring gains and losses, indicating a significant decline compared to CNY 57,954,015.89 in 2020[22] - The company achieved a consolidated revenue of 1.646 billion RMB, an increase of 18.55% compared to the previous year[39] - The net profit attributable to shareholders reached 93.19 million RMB, reflecting a growth of 42.60% year-on-year[39] Assets and Liabilities - The total assets at the end of 2021 were CNY 2,537,758,622.34, reflecting a 2.39% increase from CNY 2,478,410,539.39 at the end of 2020[22] - The net assets attributable to shareholders of the listed company at the end of 2021 were CNY 1,294,169,724.84, a 5.34% increase from CNY 1,228,551,466.38 at the end of 2020[22] - Total liabilities decreased to CNY 1,161,044,640.20 from CNY 1,249,859,073.01, representing a reduction of about 7.0%[194] - The company's total equity increased by 12.06% to CNY 1,376,713,982.14 from CNY 1,228,551,466.38[65] Operational Highlights - The company successfully launched the first domestically produced large electric wheel mining vehicle, marking a key advancement in its electric drive system[30] - The new "three-in-one" business model (mining vehicle + unmanned driving + full lifecycle operation and maintenance) was successfully implemented in 2021[31] - The average fault-free operation time (MTBF) of the vehicles was improved, contributing to enhanced product quality and operational efficiency[32] - The company maintained its position as the largest mining vehicle R&D and production base in China, with a focus on intelligent manufacturing and smart product development[36] Market and Sales - The company expanded its international market presence, particularly in Australia and Europe, while also entering Kazakhstan and Uzbekistan[31] - Domestic sales revenue was 953.67 million RMB, with a gross margin of 17.99%, reflecting a decline of 0.72 percentage points year-on-year[44] - International sales revenue increased significantly, contributing to the overall revenue growth, with foreign sales reaching 678.72 million RMB[44] Research and Development - The research and development expenses rose by 8.87% to 58.02 million RMB, attributed to the addition of enterprise annuities for R&D personnel[41] - The company is actively engaged in the development of autonomous mining vehicle systems, enhancing its technological innovation capabilities[37] - The company is focusing on technological innovation, including the development of autonomous mining vehicles and enhancing core component capabilities[76] Risk Management - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[9] - The company is enhancing risk management capabilities to ensure overall operational risk is controlled, focusing on financial management and compliance[80] - The company is addressing industry risks by closely monitoring macroeconomic policies and commodity price cycles[81] Governance and Compliance - The company has established a performance evaluation and incentive mechanism to clarify responsibilities and rights for various positions, aiming to develop a more motivating assessment system[87] - The company has developed a registration management system for insider information, with no violations reported during the reporting period[88] - The company is committed to maximizing shareholder interests and ensuring fair treatment of all shareholders[85] Environmental Initiatives - The company has actively implemented environmental protection measures, achieving all pollution discharge targets without any administrative penalties during the year[125] - The company has committed to green development, focusing on energy management and reducing overall energy consumption per unit of output[129] Future Outlook - The company aims to achieve a consolidated revenue of no less than 2.25 billion yuan for the year 2022[75] - Future performance guidance indicates a positive outlook, with expectations for revenue growth driven by new product launches[96] - The company plans to strengthen its international operations, particularly in markets like Indonesia, Russia, and Mongolia, to increase market share[78]

2021 年第三季度报告 证券代码：600262 证券简称：北方股份 内蒙古北方重型汽车股份有限公司 2021 年第三季度报告 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。 重要内容提示： 1 / 11 单位：元 币种：人民币 项目 本报告期 本报告期比上 年同期增减变 动幅度(%) 年初至报告期末 年初至报告期末比 上年同期增减变动 幅度(%) 营业收入 362,056,748.48 43.86 1,114,331,399.08 40.67 归属于上市公司股东的净利润 15,345,680.24 189.50 59,550,119.64 35.60 归属于上市公司股东的扣除非 经常性损益的净利润 9,977,471.72 239.84 52,049,875.94 31.90 经营活动产生的现金流量净额 不适用 不适用 27,703,245.05 不适用 基本每股收益（元/股） 0.0903 189.50 0.3503 35.60 稀释每股收益（元/股） 0.0903 189.50 0.3503 35.60 2021 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 752,274,650.60, representing a 39.18% increase compared to CNY 540,486,209.92 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was CNY 44,204,439.40, up 14.47% from CNY 38,615,914.04 in the previous year[19]. - Basic earnings per share for the first half of 2021 were CNY 0.2600, an increase of 14.44% from CNY 0.2272 in the same period last year[20]. - The company's operating revenue for the reporting period reached ¥752,274,650.60, representing a year-on-year increase of 39.18% compared to ¥540,486,209.92 in the same period last year[31]. - The company's total assets increased to CNY 2,662,886,285.47, compared to CNY 2,478,410,539.39 at the end of the previous period, reflecting a growth of 7.4%[90]. - The total liabilities rose to CNY 1,414,742,282.46, an increase of 13.1% from CNY 1,249,859,073.01 in the previous period[90]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to CNY 22,339,404.18, compared to a negative cash flow of CNY -16,558,531.17 in the same period last year[19]. - Cash and cash equivalents amounted to ¥427,295,437.47, a decrease of 3.18% compared to ¥414,126,402.15 in the previous period[37]. - The ending balance of cash and cash equivalents was ¥387,551,388.74, down from ¥526,733,914.26 at the end of the first half of 2020, a decrease of approximately 26.4%[96]. - Total cash inflow from operating activities was ¥673,704,127.46, compared to ¥668,704,099.78 in the first half of 2020, indicating a slight increase of approximately 0.2%[95]. - Cash outflow from operating activities decreased to ¥651,364,723.28 from ¥685,262,630.95, representing a reduction of about 4.9%[95]. Assets and Liabilities - The total current assets as of June 30, 2021, amount to 2,117,960,676.31 RMB, an increase from 1,920,535,427.05 RMB at the end of 2020[88]. - Accounts receivable increased by 49.20% to ¥661,485,462.07 from ¥443,364,768.77, driven by increased sales[37]. - Inventory rose by 50.51% to ¥641,173,205.10, reflecting the need to meet sales demand[37]. - Accounts payable surged by 229.68% to ¥465,967,529.43 from ¥141,340,820.12, due to extended payment terms with suppliers[37]. - The company reported a significant reduction in receivables financing, down 91.75% to ¥20,450,000.00 from ¥247,984,669.94[37]. Research and Development - Research and development expenses increased by 26.63% to ¥8,938,993.19, reflecting ongoing investment in innovation and technology[31]. - The company has made progress in the localization of core components for mining vehicles, achieving a self-supply system for most parts except for engines and transmission systems[28]. - The company is advancing its autonomous driving initiatives, focusing on the development of a smart mining transportation system based on unmanned mining vehicles[28]. Market Position and Strategy - The company operates in the mining vehicle industry, which is characterized by high reliability and durability, with a narrow market coverage primarily serving large resource enterprises[24]. - The company remains a leading player in the domestic mining vehicle industry, benefiting from economies of scale and competitive advantages amid increasing industry concentration[24]. - The company aims to enhance its market presence both domestically and internationally, with a focus on expanding its service network and product offerings[27]. Risk Management - The company faces industry risks related to macroeconomic policies and market competition, necessitating strategic adjustments[43]. - The company is implementing risk control measures for accounts receivable and inventory management to minimize credit impairment and asset impairment risks[45]. - The company emphasizes a "cash is king" approach and project responsibility system to manage accounts receivable risks effectively[45]. Environmental Compliance - The company met all environmental discharge standards for air and water pollutants, with solid waste disposed of in compliance with regulations[56]. - The company conducted regular monitoring of wastewater discharge and noise levels, all of which complied with national standards[56]. - The company has implemented measures to prevent environmental risks and enhance emergency response capabilities[57]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 9,805[81]. - The largest shareholder, Inner Mongolia North Heavy Industries Group Co., Ltd., holds 46,341,499 shares, representing 27.26% of the total shares[82]. - The company distributed dividends totaling ¥20,400,000 during the reporting period[101]. Corporate Governance - The financial statements were approved by the company's board on August 20, 2021, ensuring compliance with accounting standards[112]. - The company has maintained its continuous operation capability without significant doubts regarding its ability to continue as a going concern[114]. - There were no significant lawsuits or arbitration matters during the reporting period[61].

Financial Performance - In 2020, the company's operating revenue was CNY 1,388,383,103.51, a decrease of 2.06% compared to CNY 1,417,563,548.60 in 2019[20] - The net profit attributable to shareholders of the listed company was CNY 65,348,798.10, an increase of 4.29% from CNY 62,662,189.33 in the previous year[20] - The net asset attributable to shareholders of the listed company at the end of 2020 was CNY 1,228,551,466.38, up 4.10% from CNY 1,180,154,366.80 at the end of 2019[20] - The total assets of the company increased by 1.86% to CNY 2,478,410,539.39 from CNY 2,433,050,512.25 in 2019[20] - The basic earnings per share for 2020 was CNY 0.38, a 2.70% increase from CNY 0.37 in 2019[22] - The cash flow from operating activities net amount was CNY 92,313,320.32, representing a 10.38% increase from CNY 83,631,913.07 in 2019[20] - The company reported a net profit of CNY 57,954,015.89 after deducting non-recurring gains and losses, a slight increase of 1.06% from CNY 57,343,534.20 in 2019[20] - The company reported a total non-recurring gains and losses of RMB 7,394,782.21 in 2020, an increase of 39.1% compared to RMB 5,318,655.13 in 2019[27] - The company achieved operating revenue of RMB 1.388 billion, completing 92.56% of the board's target of RMB 1.5 billion, a decrease of 2.06% compared to the previous year[39] - Operating costs increased to RMB 1.093 billion, up 6.41% year-on-year, primarily due to the implementation of new revenue standards[41] - The gross margin in the machinery manufacturing sector decreased by 6.24 percentage points to 21.11% due to changes in product sales structure and new revenue recognition standards[44] - Domestic revenue fell by 10.87% to RMB 1.141 billion, while international revenue increased by 86% to RMB 242.91 million[45] Research and Development - Research and development expenses surged by 194.25% to RMB 53.29 million, reflecting the company's commitment to innovation[41] - The company is focusing on technological innovation, including the development of an intelligent electric ecological platform for mining vehicles and a smart mining automatic transportation system based on unmanned driving[74] - The company has established a four-level talent system to support the research and development of mining vehicles[141] - The company aims to enhance its research and development efforts to drive long-term growth[130] Market Expansion and Strategy - The company achieved breakthroughs in high-end international markets, marking its first success in Australia and Europe despite the challenges posed by the pandemic[35] - The company plans to expand its market presence by targeting more overseas orders and enhancing domestic order acquisition through customized responses to customer needs[74] - The company aims to become a leading international mining vehicle manufacturer by providing cost-effective solutions and extending its industry chain[72] - The mining vehicle market in China currently accounts for only 18% of global demand, indicating potential for future growth as international trends continue[71] - The company plans to continue focusing on high-quality development and enhancing core competitiveness in the future[39] Financial Management and Governance - The company has maintained a consistent cash dividend policy over the past three years, with dividends of CNY 1.20 per 10 shares in both 2019 and 2020[82] - The company executed a change in accounting policy effective January 1, 2020, adopting the revised revenue recognition standards without impacting prior financial results[86] - The audit fee for the 2020 annual report was CNY 500,000, with CNY 380,000 allocated for annual audit and CNY 120,000 for internal control audit[88] - The company has demonstrated good integrity during the reporting period, with no significant debts or court judgments unmet[90] - The company emphasizes stakeholder rights, actively cooperating with employees, customers, and the public for sustainable development[145] - The company aims to continuously improve its governance structure and internal control systems to protect minority shareholders' rights[144] Operational Efficiency - The company is committed to improving production efficiency and quality control, with initiatives to enhance automation and flexible tooling, and to improve MTBF and MTTR metrics[75] - The company is exploring new technologies and product innovations to stay competitive in the market[130] - The company has implemented a sales performance incentive system to adapt to market competition[141] Risk Management - The company emphasizes risk management, particularly in financial control and internal compliance, to mitigate potential operational risks[75] - The company faces industry risks related to the cyclical nature of the mining vehicle market and macroeconomic policies affecting customer demand[76] - The company is exposed to market risks due to intense competition from established global players in the mining vehicle sector[76] - The company is actively managing foreign exchange risks associated with significant import and export activities, utilizing financial tools to stabilize currency exposure[78] - The company is implementing strategies to mitigate risks related to raw material price fluctuations by establishing long-term supplier agreements and diversifying supply sources[78] Corporate Social Responsibility - The company has actively participated in poverty alleviation efforts, purchasing agricultural products worth 67.68 thousand RMB to support local poverty alleviation initiatives[103] - The company has implemented pollution prevention measures, ensuring all pollutants meet discharge standards throughout the year[107] - The company has established an emergency response plan for environmental incidents, ensuring preparedness for potential accidents[108] Shareholder Structure - The total number of common stock shareholders at the end of the reporting period was 8,714, an increase from 8,527 at the end of the previous month[112] - The largest shareholder, Inner Mongolia North Heavy Industries Group Co., Ltd., held 46,341,499 shares, representing 27.26% of total shares, with a reduction of 8,500,000 shares during the reporting period[114] - The second largest shareholder, Tewo (Shanghai) Enterprise Management Consulting Co., Ltd., held 42,780,000 shares, accounting for 25.16% of total shares, with no change in holdings[114] - The top ten shareholders collectively held a significant portion of the company's equity, with the top three shareholders alone accounting for over 57% of total shares[114] Human Resources - The company employed a total of 803 staff members, including 516 production personnel and 157 technical personnel[140] - The company organized over 160 internal training sessions and more than 50 external training sessions throughout the year[142] - The total amount paid for labor outsourcing was 1.9036 million yuan[143] Changes in Management - The management team underwent significant changes, with key positions filled by new appointees including Li Jun as Chairman and Wang Zhanshan as General Manager[131] - The company appointed Su Xiangjun as the new financial director following the resignation of Hou Wenrui[138] - Zhang Jide was elected as an independent director, replacing Mu Linjuan who resigned[138] Compliance and Reporting - The company issued 42 temporary announcements and periodic reports, ensuring timely and accurate information disclosure[146] - The internal control system was independently audited by Da Hua Accounting Firm, receiving a standard unqualified opinion[150]

[Important Notice](index=3&type=section&id=一、%20重要提示) The company's board of directors, supervisory board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report - The company's responsible person, chief accountant, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements[4](index=4&type=chunk) - This company's first quarter 2021 report is unaudited[4](index=4&type=chunk) - The board of directors, supervisory board, and all directors, supervisors, and senior management of the company assure the authenticity, accuracy, and completeness of this quarterly report, with no false records, misleading statements, or major omissions[4](index=4&type=chunk) [Company Profile](index=3&type=section&id=二、%20公司基本情况) This section provides an overview of the company's key financial performance and shareholder structure as of the report period end [Key Financial Data](index=3&type=section&id=2.1%20主要财务数据) In Q1 2021, operating revenue decreased by 19.09% to 272 million CNY, while net profit attributable to shareholders increased by 5.67% to 17.46 million CNY, with total assets slightly up by 1.48% and operating cash flow loss narrowing 2021 Q1 Key Financial Data | Indicator | As of Report Period End / Year-to-date | As of Prior Year End / Prior Year-to-date | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets (CNY)** | 2,515,046,135.91 | 2,478,410,539.39 | 1.48% | | **Net Assets Attributable to Shareholders (CNY)** | 1,246,207,156.48 | 1,228,551,466.38 | 1.44% | | **Operating Revenue (CNY)** | 271,840,273.09 | 335,988,159.79 | -19.09% | | **Net Profit Attributable to Shareholders (CNY)** | 17,461,904.15 | 16,525,337.89 | 5.67% | | **Net Cash Flow from Operating Activities (CNY)** | -134,983,187.89 | -168,316,323.98 | Not applicable | | **Basic Earnings Per Share (CNY/share)** | 0.1027 | 0.0972 | 5.66% | Non-recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Government grants recognized in current profit/loss | 103,000.00 | | Other non-operating income and expenses | 15,755.39 | | Income tax impact | -17,813.31 | | **Total** | **100,942.08** | [Shareholder Information at Report End](index=4&type=section&id=2.2%20截止报告期末的股东总数、前十名股东、前十名流通股东（或无限售条件股东）持股情况表) As of the report period end, the company had 8,527 shareholders, with Inner Mongolia North Heavy Industries Group Co., Ltd. and TEWO (Shanghai) Enterprise Management Consulting Co., Ltd. being the top two shareholders, holding 27.26% and 25.16% respectively, both state-owned legal entities, with no pledges or freezes among the top ten shareholders - As of the report period end, the company had **8,527 shareholders**[8](index=8&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Shares Held at Period End (shares) | Percentage (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Inner Mongolia North Heavy Industries Group Co., Ltd. | 46,341,499 | 27.26 | State-owned legal entity | | TEWO (Shanghai) Enterprise Management Consulting Co., Ltd. | 42,780,000 | 25.16 | State-owned legal entity | | China Ordnance Investment Management Co., Ltd. | 5,100,000 | 3.00 | State-owned legal entity | | Qu Junwei | 3,565,665 | 2.10 | Domestic natural person | | GF Fund - China Ordnance Investment Management Co., Ltd. - GF Fund - Tian Shu Single Asset Management Plan | 3,400,000 | 2.00 | Other | - Inner Mongolia North Heavy Industries Group Co., Ltd. and China Ordnance Investment Management Co., Ltd. are under the same ultimate controller, China North Industries Group Corporation Limited, forming concerted parties[9](index=9&type=chunk) [Significant Events](index=5&type=section&id=三、%20重要事项) This section details the significant changes in the company's key financial statement items and indicators, along with their underlying causes [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=5&type=section&id=3.1%20公司主要会计报表项目、财务指标重大变动的情况及原因) During the reporting period, the company experienced significant changes across several financial items, including a 61.68% increase in inventories to meet production demands, a 45.91% decrease in prepayments, and a corresponding 83.22% increase in accounts payable, alongside a 303.73% surge in construction in progress due to vehicle test site project investments, and an 838.91% rise in financial expenses primarily due to exchange rate fluctuations, while net cash flow from financing activities significantly decreased due to a large working capital loan in the prior year Balance Sheet Key Item Changes and Reasons | Item | Change (%) | Explanation for Change | | :--- | :--- | :--- | | Cash and cash equivalents | -33.08% | Due to payments for supplier goods and other production and operating expenses | | Prepayments | -45.91% | Due to project deliveries | | Inventories | 61.68% | Increased spare parts reserves to meet current year's production demand | | Accounts payable | 83.22% | Increased due to higher purchases of spare parts | | Construction in progress | 303.73% | Increased investment in vehicle test site project | Income Statement and Cash Flow Statement Key Item Changes and Reasons | Item | Change (%) | Explanation for Change | | :--- | :--- | :--- | | Financial expenses | 838.91% | Affected by exchange rate fluctuations | | Non-operating income | -83.11% | Larger amount of quality claims from suppliers in the prior year | | Net cash flow from financing activities | -105.07% | Due to an increase in working capital loans in the prior year | [Appendix](index=7&type=section&id=四、%20附录) This appendix contains the company's unaudited financial statements, including the balance sheet as of March 31, 2021, and the income statement and cash flow statement for the first quarter of 2021 [Financial Statements](index=7&type=section&id=4.1%20财务报表) This section presents the company's unaudited financial statements for the first quarter of 2021 [Balance Sheet](index=7&type=section&id=资产负债表) As of March 31, 2021, the company's total assets were 2.515 billion CNY, a 1.48% increase from the end of the previous year, with total liabilities at 1.269 billion CNY, resulting in a debt-to-asset ratio of 50.45%, and net assets attributable to shareholders at 1.246 billion CNY, up 1.44% from the prior year-end Balance Sheet Key Data (Unit: CNY) | Item | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Assets | 2,515,046,135.91 | 2,478,410,539.39 | | Total Liabilities | 1,268,838,979.43 | 1,249,859,073.01 | | Total Owner's Equity (or Shareholder's Equity) | 1,246,207,156.48 | 1,228,551,466.38 | [Income Statement](index=9&type=section&id=利润表) In Q1 2021, the company's operating revenue was 272 million CNY, a 19.09% year-on-year decrease, with operating costs at 218 million CNY, down 18.15%, yet operating profit increased by 6.72% due to cost control and investment income, leading to a net profit of 17.46 million CNY, a 5.67% year-on-year increase Income Statement Key Data (Unit: CNY) | Item | 2021 Q1 | 2020 Q1 | | :--- | :--- | :--- | | Operating Revenue | 271,840,273.09 | 335,988,159.79 | | Operating Cost | 217,737,741.31 | 266,015,363.29 | | Operating Profit | 20,524,661.26 | 19,232,798.01 | | Total Profit | 20,543,416.65 | 19,441,573.99 | | Net Profit | 17,461,904.15 | 16,525,337.89 | [Cash Flow Statement](index=10&type=section&id=现金流量表) In Q1 2021, net cash flow from operating activities was -135 million CNY, an improvement from -168 million CNY in the prior year, while net cash outflow from investing activities was 0.79 million CNY, and net cash flow from financing activities was -12.18 million CNY, a significant decrease from a net inflow of 240 million CNY in the prior year primarily due to large borrowings then, with cash and cash equivalents at period end totaling 248 million CNY Cash Flow Statement Key Data (Unit: CNY) | Item | 2021 Q1 | 2020 Q1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -134,983,187.89 | -168,316,323.98 | | Net Cash Flow from Investing Activities | -793,630.48 | -1,303,895.15 | | Net Cash Flow from Financing Activities | -12,180,371.50 | 240,012,503.06 | | Net Increase in Cash and Cash Equivalents | -146,647,113.80 | 70,506,750.78 |

Financial Performance - Operating revenue decreased by 19.95% to CNY 792,166,260.95 for the year-to-date period compared to the same period last year[6] - Net profit attributable to shareholders decreased by 3.36% to CNY 43,916,642.59 for the year-to-date period compared to the same period last year[6] - The weighted average return on equity decreased by 0.24 percentage points to 3.67%[6] - The company reported a net profit of ¥194,068,978.49 in retained earnings, up from ¥170,552,335.90[17] - The company's operating revenue for Q3 2020 was ¥251,680,051.03, a decrease of 46.5% compared to ¥469,273,139.60 in Q3 2019[19] - The net profit for Q3 2020 was ¥5,300,728.55, down 68.8% from ¥16,993,020.79 in Q3 2019[20] - The total profit for the first three quarters of 2020 was ¥51,666,638.34, a decline of 3.4% compared to ¥53,464,336.03 in the same period of 2019[20] - The company’s basic earnings per share for the first three quarters of 2020 were ¥0.26, down from ¥0.27 in the same period of 2019[21] Assets and Liabilities - Total assets increased by 6.05% to CNY 2,580,289,149.06 compared to the end of the previous year[6] - Current assets totaled ¥2,033,533,444.52, up from ¥1,879,070,397.07 in the previous year[15] - Total liabilities reached ¥1,376,387,415.72, compared to ¥1,252,896,145.45 in the previous year[17] - Total current assets amounted to approximately $1.88 billion, with cash and cash equivalents at $370.4 million and accounts receivable at $337.5 million[26] - Total liabilities reached approximately $1.25 billion, with current liabilities at $936.7 million and long-term borrowings of $200 million[27] - Shareholders' equity totaled approximately $1.18 billion, including retained earnings of $170.6 million and capital reserves of $403.9 million[27] Cash Flow - Cash flow from operating activities showed a significant improvement, with a net cash flow of CNY -1,072,014.15 compared to CNY -321,235,728.23 in the previous year[6] - The company reported a net cash flow from operating activities of -¥1,072,014.15 for the first three quarters of 2020, compared to -¥321,235,728.23 in the same period of 2019[23] - The cash and cash equivalents at the end of Q3 2020 were ¥413,283,323.22, an increase from ¥204,578,219.76 at the end of Q3 2019[24] Inventory and Expenses - Inventory increased by 54.79% to CNY 954,358,093.55 due to delayed deliveries and increased component reserves[10] - Inventory increased significantly to ¥954,358,093.55 from ¥616,560,323.30, indicating a rise in stock levels[15] - Sales expenses decreased by 41.51% to ¥29,721,158.07 from ¥50,813,619.22 due to a change in accounting standards[11] - The company’s sales expenses for the first three quarters of 2020 were ¥29,721,158.07, a decrease of 41.4% from ¥50,813,619.22 in the same period of 2019[19] - Research and development expenses for the first three quarters of 2020 were ¥10,728,194.36, down 21.3% from ¥13,653,668.93 in the same period of 2019[19] Investments and Financing - Long-term borrowings increased by 50.00% to CNY 300,000,000.00 to support production needs[10] - The company reported a decrease in accounts receivable financing by 48.68% to CNY 97,941,079.28 due to the collection of matured notes[10] - Investment income rose by 29.99% to ¥15,502,823.20 compared to ¥11,926,399.64 in the previous year[11] - The company achieved investment income of ¥15,502,823.20 in the first three quarters of 2020, an increase of 30.5% compared to ¥11,926,399.64 in the same period of 2019[20] - The company obtained loans amounting to ¥400,000,000.00 in the first three quarters of 2020, compared to ¥420,000,000.00 in the same period of 2019[24] Government Support and Contracts - The company received government subsidies amounting to CNY 2,171,000.00 during the year-to-date period[8] - The company signed a significant procurement contract with Huibang Group for mining vehicles, with no further developments reported as of the end of the reporting period[11] Deferred Income - Deferred income increased to ¥49,618,763.48, up 39.95% from ¥35,454,775.48 in the same period last year[11] - The company reported a total of $35.5 million in deferred income, indicating potential future revenue streams[27]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 540,486,209.92, representing a 3.88% increase compared to CNY 520,313,519.21 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2020 was CNY 38,615,914.04, a 35.72% increase from CNY 28,451,664.84 in the previous year[18]. - Basic earnings per share for the first half of 2020 were CNY 0.2272, up 35.72% from CNY 0.1674 in the same period last year[20]. - The company’s net profit for the period increased by 21.68% to ¥188,768,249.94, compared to ¥155,140,468.21 in the same period last year[39]. - The total comprehensive income for the period was CNY 38,615,914.04, reflecting the company's strong performance[93]. Cash Flow and Assets - The net cash flow from operating activities was -CNY 16,558,531.17, showing a significant improvement from -CNY 370,947,404.95 in the same period last year[18]. - Cash and cash equivalents at the end of the period reached ¥557,512,934.30, accounting for 20.44% of total assets, a 146.69% increase compared to the same period last year[38]. - Accounts receivable decreased by 37.44% to ¥322,871,645.18, which accounted for 11.84% of total assets, indicating improved sales collection[38]. - Inventory stood at ¥1,027,137,854.94, representing 37.65% of total assets, with a slight decrease of 0.72% compared to the previous year[38]. - The total assets at the end of the reporting period were CNY 2,727,996,074.87, which is a 12.12% increase from CNY 2,433,050,512.25 at the end of the previous year[18]. Liabilities and Equity - The company's current liabilities increased to CNY 1,187,959,518.85 from CNY 936,705,468.71, representing a rise of about 27%[83]. - The total equity increased slightly to CNY 1,197,847,255.60 from CNY 1,180,154,366.80, indicating a growth of about 1.5%[84]. - Short-term borrowings decreased by 45.45% to ¥300,000,000.00, down from ¥550,000,000.00, reflecting a reduction in short-term debt[39]. Research and Development - Research and development expenses decreased by 26.92% to 7.06 million RMB, attributed to reduced spending on materials and government subsidies[34]. - The company has increased investment in technology research and development for mining vehicles, ensuring the launch of new products annually to maintain a technological lead in the domestic market[46]. Market Position and Strategy - The company continues to focus on the research, production, and sales of off-road mining dump trucks, maintaining a comprehensive marketing service network[23]. - The company maintained its position as a leader in the domestic mining vehicle industry, benefiting from economies of scale and competitive advantages[25]. - The company signed a contract for an Australian project, indicating successful international market expansion efforts[30]. Risks and Challenges - The company faces industry risks related to the cyclical nature of the mining vehicle sector and market competition from established global players[44]. - The company relies on imported core components for mining vehicles, and any disruptions in international trade could significantly impact operations; thus, it is expanding its international supplier channels[46]. - The company faces foreign exchange risks due to large annual import and export volumes, primarily settled in USD, GBP, and EUR; it is actively monitoring exchange rate fluctuations and utilizing financial tools to mitigate risks[46]. Related Party Transactions - The company has a significant related party transaction involving a mining vehicle procurement contract valued at approximately 89.19 million USD, with a revised contract execution deadline extended to December 31, 2020[55]. - The total amount of related transactions for the year reached approximately RMB 279.48 million, with significant transactions including RMB 196.08 million in sales to China Northern Vehicle Co., Ltd.[57]. Environmental and Social Responsibility - The company plans to continue its commitment to poverty alleviation and social responsibility, aligning with national policies[62]. - The company has invested in environmental protection measures, ensuring 100% compliance with pollution discharge standards[65]. Accounting and Financial Reporting - The financial statements were approved by the board on August 21, 2020, ensuring compliance with accounting standards[105]. - The company follows specific accounting treatments for mergers and acquisitions, ensuring that all transactions are accounted for appropriately[114][116]. - The company recognizes contract liabilities based on revenue measurement principles, ensuring accurate reporting of obligations[196]. Shareholder Information - The total number of ordinary shareholders reached 8,829 by the end of the reporting period[73]. - Inner Mongolia North Heavy Industries Group Co., Ltd. holds 27.26% of the shares, remaining the largest shareholder[74]. - The company completed the transfer of 5% of its shares from Inner Mongolia North Heavy Industries Group to China Ordnance Investment Management Co., Ltd. for ¥123,777,000.00[70].

Financial Performance - Operating revenue surged by 109.83% to CNY 335,988,159.79 year-on-year[9] - Net profit attributable to shareholders rose by 84.15% to CNY 16,525,337.89 compared to the same period last year[5] - Basic earnings per share improved by 84.09% to CNY 0.0972 compared to the previous year[5] - The company's operating revenue for Q1 2020 was CNY 335,988,159.79, a significant increase of 109.5% compared to CNY 160,123,912.02 in Q1 2019[17] - The net profit for Q1 2020 reached CNY 16,525,337.89, representing an 84.5% increase from CNY 8,973,800.12 in Q1 2019[19] - The basic and diluted earnings per share for Q1 2020 were CNY 0.0972, compared to CNY 0.0528 in Q1 2019, reflecting an increase of 84.6%[19] Assets and Liabilities - Total assets increased by 13.59% to CNY 2,763,781,348.18 compared to the end of the previous year[5] - The total assets as of March 31, 2020, amounted to CNY 2,763,781,348.18, up from CNY 2,433,050,512.25 at the end of 2019, indicating a growth of 13.5%[14] - The total current liabilities rose to CNY 1,239,409,245.29, compared to CNY 936,705,468.71 in the previous period, marking a 32.3% increase[14] - The total liabilities as of March 31, 2020, were CNY 1,566,484,898.45, up from CNY 1,252,896,145.45, indicating a growth of 25.0%[14] - The total liabilities as of December 31, 2019, were ¥1,252.90 million, remaining unchanged as of January 1, 2020, indicating stability in the company's financial obligations[24] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of CNY 168,316,323.98, worsening by 12.61% year-on-year[9] - In Q1 2020, the net cash flow from operating activities was -¥168.32 million, compared to -¥149.47 million in Q1 2019, indicating a decline in operational cash flow[20] - The cash outflow from investing activities in Q1 2020 was -¥1.30 million, compared to -¥0.98 million in Q1 2019, indicating an increase in investment expenditures[20] - The company received ¥300 million in borrowings in Q1 2020, a significant increase from ¥150 million in Q1 2019, highlighting a strategic move to enhance liquidity[21] - The net increase in cash and cash equivalents for Q1 2020 was ¥70.51 million, contrasting with a decrease of -¥14.21 million in Q1 2019, showcasing improved cash management[21] Inventory and Expenses - Inventory increased by 48.32% to CNY 914,502,526.38 to meet production demands[9] - The company's inventory as of March 31, 2020, was CNY 914,502,526.38, an increase of 48.3% from CNY 616,560,323.30 in the previous year[13] - Research and development expenses for Q1 2020 were CNY 3,858,338.65, slightly up from CNY 3,593,664.81 in Q1 2019, showing a growth of 7.4%[18] - The company reported a financial expense of CNY 607,611.48 in Q1 2020, a decrease from CNY 4,385,395.71 in Q1 2019, representing a reduction of 86.1%[18] Shareholder Information - The total number of shareholders reached 9,130 by the end of the reporting period[8] Changes in Accounting Standards - The company executed new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting and performance metrics[24]

Financial Performance - The company's operating revenue for 2019 was CNY 1,417,563,548.60, representing an increase of 18.57% compared to CNY 1,195,591,713.63 in 2018[21] - The net profit attributable to shareholders of the listed company decreased by 45.16% to CNY 62,662,189.33 from CNY 114,257,594.33 in the previous year[21] - The basic earnings per share for 2019 was CNY 0.37, down 44.78% from CNY 0.67 in 2018[22] - The total assets of the company increased by 18.56% to CNY 2,433,050,512.25 at the end of 2019, compared to CNY 2,052,197,759.69 at the end of 2018[21] - The cash flow from operating activities for 2019 was CNY 83,631,913.07, a significant increase of 65.26% from CNY 50,607,608.77 in 2018[21] - The weighted average return on equity decreased to 5.37% in 2019 from 10.35% in 2018, a decline of 4.98 percentage points[22] - The company reported a net profit of CNY 57,343,534.20 after deducting non-recurring gains and losses, down 22.44% from CNY 73,933,114.08 in the previous year[21] - The company achieved operating revenue of CNY 1.42 billion in 2019, an increase of 18.57% compared to the previous year[39] - Operating costs rose to CNY 1.03 billion, reflecting a 6.96% increase year-on-year[41] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 57.34 million, a decrease of 22.44% from the previous year[39] - The gross margin in the machinery manufacturing sector improved to 27.35%, an increase of 7.73 percentage points compared to the previous year[44] Research and Development - Research and development expenses increased by 25.12% to CNY 18.11 million, indicating a focus on innovation[51] - The total R&D expenditure for the period was ¥86,005,679.22, accounting for 6.07% of operating revenue[53] - The company completed 182 training programs in 2019, with 109 internal training sessions involving 5,742 participants and 73 external training sessions involving 116 participants, achieving a training pass rate of over 98%[138] - The company plans to conduct 124 internal training sessions in 2020, with external training to be carried out based on actual needs[138] - The company has implemented a four-level talent system for key personnel, enhancing the research and development capabilities for mining vehicles[135] Market and Sales - Domestic sales revenue reached CNY 1.28 billion, a 49.90% increase year-on-year, while foreign sales decreased by 61.49%[44] - The production and sales of mining vehicles decreased by 18.88% and 28.32% respectively, but large-tonnage electric wheel models saw an increase[46] - The top five customers accounted for 72.48% of total sales, with related party sales making up 49.90% of that[50] - The company is actively expanding into the Mongolian market, leveraging resources from the weaponry group for significant breakthroughs[35] Financial Management - Financial expenses surged by 157.07% to CNY 31.48 million due to increased loans and interest expenses[51] - The company's inventory increased by 52.06% to ¥616,560,323.30, attributed to the preparation of components for 2020 contracts[57] - The company’s total liabilities decreased by 69.10% in short-term borrowings to ¥92,700,380.40, indicating a reduction in financial leverage[57] - The company has established a project responsibility system to manage accounts receivable effectively, ensuring timely collection and reducing credit risk[72] - The company emphasizes cash flow management to control accounts receivable and inventory, adhering to a "sales-driven production" principle[72] Corporate Governance - The company has a comprehensive governance structure, with clear responsibilities among the shareholders, board of directors, and supervisory board[141] - The company emphasizes fair treatment of all shareholders and has mechanisms in place to protect shareholder rights during meetings[141] - The company has a structured process for determining the remuneration of directors and supervisors, which involves shareholder meetings[131] - The company has maintained a stable management team with no significant changes in executive positions during the reporting period[125] Related Party Transactions - The total amount of related party transactions for the year was approximately RMB 711.20 million, with significant sales to China North Vehicle Co., Ltd. amounting to RMB 572.88 million[92] - The company engaged in purchasing goods and services from related parties, with the highest transaction being for spare parts and services from Terex Northern Mining Machinery at RMB 25.80 million[91] - The company provided guarantees totaling RMB 200 million to Inner Mongolia North Heavy Duty Truck Group, with a guarantee type of joint liability[96] - The company’s related party transactions include both sales and purchases, indicating a balanced approach to its operational needs[91] Future Outlook - The company aims to achieve an annual revenue of no less than 1.5 billion yuan in 2020[66] - The company plans to enhance its technological innovation capabilities, focusing on unmanned driving and smart mining[66] - The company has plans for market expansion and new product development, although specific figures were not disclosed in the call[199] - The strategic plan includes potential mergers and acquisitions to strengthen market position and expand product offerings[187] Audit and Compliance - The company received a standard unqualified opinion from Da Hua Accounting Firm regarding the effectiveness of internal controls over financial reporting for the year 2019[150] - The audit identified revenue recognition as a key audit matter due to the inherent risk of management manipulating revenue to meet targets[151] - The financial statements were prepared in accordance with accounting standards and fairly reflect the company's financial position as of December 31, 2019[150] - The audit report emphasizes the importance of professional skepticism and the evaluation of risks related to fraud and error in financial reporting[154]