2022 年第三季度报告 证券代码：600469 证券简称：风神股份 风神轮胎股份有限公司 2022 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法律责任。 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 信息的真实、准确、完整。 第三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 | | 年初至报告 | | --- | --- | --- | --- | --- | | | | 比上年同 | 年初至报告期末 | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 1,351,058,118.60 | 8.09 | 3,742,356,033.1 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,391,297,914.53, a decrease of 20.70% compared to ¥3,015,682,720.31 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥10,879,528.12, down 56.82% from ¥25,194,349.29 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was -¥12,258,997.72, a decline of 268.20% compared to ¥7,288,213.65 in the previous year[17]. - The net cash flow from operating activities was ¥168,725,698.80, a decrease of 14.54% from ¥197,440,506.61 in the same period last year[17]. - The total assets at the end of the reporting period were ¥7,305,396,257.25, down 2.78% from ¥7,514,363,078.51 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company increased by 1.71% to ¥2,735,582,320.81 from ¥2,689,535,020.67 at the end of the previous year[17]. - Basic earnings per share for the first half of 2022 were ¥0.01, a decrease of 66.67% compared to ¥0.03 in the same period last year[18]. - The weighted average return on net assets was 0.40%, down 0.47 percentage points from 0.87% in the previous year[18]. - The company experienced a decline in sales volume in the first half of 2022, leading to a significant decrease in profitability due to high raw material prices[19]. - In the first half of 2022, the company's sales revenue was CNY 2.39 billion, a decrease of 20.70% year-on-year, with a decline in sales volume of approximately 34%[39]. - The company's gross profit margin was impacted by a 52% decline in domestic market sales due to frequent COVID-19 outbreaks and transportation restrictions[43]. Market and Product Strategy - The company has increased efforts in market and product structure adjustments since the second quarter, resulting in improved operating conditions and a turnaround in performance for the first half of the year[19]. - The company has a diverse product range, producing over 1,000 specifications of tires, and is a strategic supplier for major manufacturers like Dongfeng and Volvo, with products sold in over 140 countries[24]. - The company is focusing on green and intelligent tire development as a key competitive strategy, aligning with industry trends towards sustainability[31]. - International expansion is a priority, with the company leveraging the Belt and Road Initiative to enhance its global market presence and competitiveness[32]. - The company launched new products including the "Neo" series and lightweight fuel-efficient tires, which are expected to support growth in export and replacement markets[35]. - The company has established a global marketing network covering over 140 countries and regions, enhancing its market presence[38]. Operational Efficiency - The company maintains a centralized procurement model, utilizing platforms for cost-effective sourcing of raw materials, which helps control procurement costs[26]. - The production model incorporates a "6+3" lean management approach, focusing on quality, cost, efficiency, safety, and environmental protection, while leveraging advanced manufacturing technologies[27]. - The company has established over 200 primary distributors in the domestic market, enhancing its sales network and market share[28]. - The company aims to optimize its production capacity and product structure to better respond to market demands and challenges[40]. Research and Development - The company has a total of 277 patents and has participated in the formulation of 71 national standards and 19 industry standards[34]. - Research and development expenses decreased by 28.01% to CNY 101.59 million, reflecting reduced material consumption in the R&D department[43]. - The company signed a patent and proprietary technology licensing agreement with Pirelli, facilitating technology transfer and innovation[34]. Financial Position and Liabilities - Accounts receivable increased by 43.00% to ¥740.51 million, representing 10.14% of total assets, primarily due to longer payment terms in overseas markets[45]. - The company's foreign assets amounted to ¥453.76 million, accounting for 6.21% of total assets[46]. - The company reported a significant decrease of 83.91% in receivables financing, down to ¥102.00 million, due to the maturity and transfer of notes[45]. - The construction in progress decreased by 46.48% to ¥30.06 million, attributed to project completion[45]. - The company reported a maximum daily deposit limit of RMB 500 million with China Chemical Finance Co., Ltd., with a deposit interest rate range of 1.61% to 2.025%[90]. - The company has a loan limit of RMB 500 million with China Chemical Finance Co., Ltd., with a loan interest rate range of 3.00% to 3.30%[91]. - The company initiated a merger of its financial companies, retaining Sinochem Group Finance Co., Ltd. and closing China Chemical Finance Co., Ltd. as of June 16, 2022[92]. Environmental and Social Responsibility - The company focuses on "green development" and has implemented a "green manufacturing" model, enhancing resource output rates and ensuring pollutant emissions are consistently below national standards[74]. - The company has achieved a 100% employment rate for capable and willing individuals among the targeted poverty alleviation groups in the villages it supports[76]. - The company has also reached a 100% training rate for eligible individuals among the targeted poverty alleviation groups in the same villages[76]. - The wastewater treatment capacity at the Jiaozuo base is 12,000 tons per day, while the Taiyuan base has a capacity of 2,400 tons per day[69]. - The company has implemented real-time monitoring systems for emissions at both the Jiaozuo and Taiyuan bases, ensuring compliance with environmental standards[68]. - The company has established emergency response plans for environmental incidents at both bases, which have been filed with local environmental authorities[71]. - The company’s major pollutants have been reported to be within compliance limits, with no exceedances during the reporting period[68]. Shareholder and Corporate Governance - The total number of ordinary shareholders as of the reporting period end was 30,146[100]. - The top shareholder, China National Chemical Corporation, holds 419,435,536 shares, representing 57.37% of the total shares[102]. - The company has repurchased a total of 10,865,326 shares, which is 1.93% of the total share capital, with a total expenditure of 50,667,356.89 RMB[103]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[106]. - The integrity status of the company and its controlling shareholders is good, with no unfulfilled court judgments or significant debts overdue[86]. Risk Factors - The company faces risks from international political and economic changes, including trade protectionism and geopolitical conflicts, which could impact performance[54]. - The price volatility of natural rubber, a key raw material, poses a significant risk to cost control and operational performance[56]. - The ongoing COVID-19 pandemic continues to affect production and logistics, presenting challenges to both domestic and international operations[57].

Financial Performance - In 2021, the company's operating revenue was CNY 5,557,572,578.05, a decrease of 0.38% compared to CNY 5,578,726,789.65 in 2020[22]. - The net profit attributable to shareholders was CNY -109,024,869.62, representing a decline of 154.22% from CNY 201,089,061.22 in the previous year[22]. - The net assets attributable to shareholders decreased by 6.98% to CNY 2,689,535,020.67 from CNY 2,891,259,596.11 at the end of 2020[23]. - The total assets at the end of 2021 were CNY 7,514,363,078.51, a slight increase of 0.16% from CNY 7,502,313,796.92 in 2020[23]. - The cash flow generated from operating activities was CNY 247,019,864.32, down 43.75% from CNY 439,184,999.89 in 2020[22]. - The company reported a revenue of 5.558 billion RMB in 2021, a decrease of 0.38% compared to the previous year[30]. - Basic earnings per share were -0.15 RMB, representing a decline of 142.86% year-over-year[24]. - The weighted average return on equity decreased to -3.87%, down 12.88 percentage points from the previous year[24]. - The company reported a revenue of 5.56 billion RMB in the reporting period, representing a year-on-year decrease of 0.38%[47]. - Net profit for the period was -1.09 billion RMB, a significant decline of 154.22% compared to the previous year, primarily due to a decrease in gross profit margin[47]. - The company's gross profit margin dropped to 10.20% from 18.54% in the previous year, a decrease of 8.34 percentage points[48]. Operational Challenges - The company faced production capacity impacts exceeding 30% due to adverse factors such as heavy rainfall and COVID-19[30]. - Raw material costs surged, with increases in prices of chemical additives ranging from 30% to 100% in November 2021[31]. - The company’s production bases faced environmental restrictions, leading to over 50 days of limited production in 2021[31]. - The demand for replacement all-steel tires dropped by approximately 10% due to regional pandemic impacts on logistics and transportation[32]. - Despite a 7.02% year-on-year growth in all-steel tire exports, shipping costs surged, with some routes experiencing price increases of over 10 times, significantly affecting export order confirmations and shipments[32]. - The gross profit margin for the matching market in 2021 was significantly lower than that of the repair market and overseas markets due to rising costs that could not be passed on[33]. - The prices of key raw materials such as natural rubber and synthetic rubber increased during the reporting period, contributing to rising operational costs[34]. - The company faced risks from international trade friction, which could impact export operations due to increasing protectionism[116]. - The company is exposed to raw material price volatility, particularly in natural rubber, which significantly affects production costs and overall performance[117]. Strategic Initiatives - The company implemented market and product structure adjustments to address rising operational costs[30]. - The company plans to enhance market structure adjustments and accelerate product upgrades to address capacity limitations and improve profitability[33]. - The company has established over 300 overseas primary distributors, covering most countries and regions globally[40]. - The company aims to maintain strategic focus while adjusting its operations to foster high-quality development[33]. - The company is focusing on high-performance, environmentally friendly products, with significant advancements in new materials and tire design[88]. - The company is actively expanding its market presence by providing high-performance, cost-effective tire products to a wide range of customers[82]. - The company aims to enhance high-end product ratios and develop new products for the new energy commercial vehicle sector[109]. - The company plans to adjust market structure and focus on high-profit products to address long-term pressures in the supporting market[109]. Research and Development - Research and development expenses amounted to 256.17 million RMB, a decrease of 4.64% from the previous year[48]. - The company holds a total of 313 patents and has participated in the formulation of 75 national standards and 19 industry standards[42]. - The company has implemented 11 independent innovation research projects, with 3 completed and 8 progressing as planned[87]. - The company aims to enhance its core original R&D capabilities, focusing on new materials and testing methods to meet environmental standards[88]. Governance and Compliance - The company maintains a robust corporate governance structure, ensuring compliance with laws and regulations while protecting shareholder rights[120]. - The company has established a strict insider information registration system in accordance with relevant laws and regulations, ensuring confidentiality and proper management of insider information[130]. - The company has engaged in significant asset transactions, including the acquisition of 100% equity in Fengshen (Taiyuan) and Qingdao Huanghai Rubber Co., Ltd., completed on October 22, 2016[131]. - The company has not faced any penalties from securities regulatory authorities in the past three years[151]. - The company’s board includes members with extensive experience in finance and management, such as Jiao Chonggao, who is a senior accountant and currently serves as the chief accountant of China Chemical Rubber Co., Ltd.[143]. - The company is committed to transparency in its financial reporting and governance practices, aligning with regulatory requirements[142]. Environmental Responsibility - The company operates as a key pollutant discharge unit, with wastewater and emissions treated to meet national standards[175]. - The company has implemented a water treatment system that allows for the reuse of treated wastewater, significantly reducing environmental impact[175]. - The company has committed to "green development" and aims to enhance resource output rates while adhering to national environmental standards, achieving pollutant emissions consistently below these standards[182]. - The company has adopted new technologies and processes to reduce carbon emissions, improving resource utilization efficiency and promoting energy conservation[183]. Social Responsibility - In 2021, the company donated a total of 72,016 yuan for educational support and participated in various charitable activities, demonstrating its commitment to social responsibility[184]. - The company has actively engaged in poverty alleviation efforts, providing support to local communities and improving living conditions[185].

2022 年第一季度报告 证券代码：600469 证券简称：风神股份 风神轮胎股份有限公司 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、准确性和完整性依法承担法律责任。 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 | 1,052,909,208.35 | -31.89 | | 归属于上市公司股东的净利润 | -41,254,837.56 | -251.24 | | 归属于上市公司股东的扣除非经常 | -45,715,188.56 | -285.26 ...

2021 年第三季度报告 证券代码：600469 证券简称：风神股份 风神轮胎股份有限公司 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： 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。 第三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 | 项目 | 本报告期 | 本报告期 比上年同 期增减变 | 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 | 1,249,980,631.29 | 动幅度(%) -14.96 | 4,265,663,351.60 | 3.18 | | 归属于上市公司股东的净利润 | -15,160,796.5 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,015,682,720.31, representing a year-on-year increase of 13.19% compared to CNY 2,664,272,478.32 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 71.46% to CNY 25,194,349.29 from CNY 88,288,429.01 in the previous year[18]. - The net profit after deducting non-recurring gains and losses fell by 88.57% to CNY 7,288,213.65 from CNY 63,758,707.54 in the same period last year[18]. - Basic earnings per share dropped by 81.25% to CNY 0.03 from CNY 0.16 in the same period last year[19]. - The weighted average return on net assets decreased by 3.25 percentage points to 0.87% from 4.12% in the previous year[19]. - The company reported a total income of 17,906,135.64, with a significant portion coming from non-operating income of 2,854,155.73[23]. - The company reported a net profit margin improvement, with net profit for the first half of 2021 showing a positive trend compared to the previous year, although specific figures were not disclosed in the provided content[127]. - The total profit for the first half of 2021 was CNY 25,690,119.64, down 76.3% from CNY 108,324,732.36 in the same period of 2020[129]. - The comprehensive income for the first half of 2021 was CNY 25,759,304.54, compared to a comprehensive income of CNY 87,924,571.21 in the same period of 2020, indicating a significant decline[144]. Cash Flow and Assets - The net cash flow from operating activities was CNY 197,440,506.61, an increase of 9.42% compared to CNY 180,448,881.97 in the previous year[18]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥1,217,173,600.57, representing 14.46% of total assets, a 10.95% increase compared to the previous year[53]. - Accounts receivable increased by 72.98% year-on-year, reaching ¥994,151,292.55, attributed to longer payment terms in the supporting market, which accounted for approximately 51% of revenue[53]. - Inventory at the end of the reporting period was ¥1,095,748,132.48, accounting for 13.01% of total assets, reflecting a 9.37% increase from the previous year[53]. - The company's long-term equity investments totaled ¥515,581,707.89, which is 6.12% of total assets, showing a 5.34% increase year-on-year[53]. - The company reported a significant increase in revenue growth, with a total of 1,185,014.50 million RMB confirmed as management income at the termination of the management agreement[99]. - The total assets of the company as of June 30, 2021, were ¥8,619,832,297.36, compared to ¥7,709,172,323.69 at the end of 2020, representing an increase of 11.79%[125]. - The company's total liabilities increased to ¥5,381,868,463.42 from ¥4,453,999,361.78, reflecting a growth of 20.81%[125]. Challenges and Risks - The company faced significant challenges due to rising raw material prices, overseas pandemic impacts, and increased shipping costs, leading to a notable decline in profitability[20]. - The company is facing risks from international trade friction, raw material price fluctuations, and exchange rate changes, which could significantly impact its operational performance[61][62][63]. - The main business cost increased by approximately 17% year-on-year, significantly outpacing revenue growth, primarily due to rising prices of key raw materials such as natural rubber, carbon black, and steel cord, with an overall average purchase price increase of about 18% for raw materials in the first half of the year[50]. Strategic Initiatives - The company is undergoing a transformation towards intelligent and green manufacturing, aligning with industry trends for higher quality and sustainability[33]. - The company has implemented a digital factory initiative, utilizing MES systems for data collection and analysis to enhance quality and efficiency[46]. - The company is actively pursuing international expansion to mitigate trade barriers and enhance its global competitiveness[35]. - The company has established a strong presence in over 140 countries, with a focus on high-end markets in Europe and North America[25]. - The company has a diversified product range, producing over 1,000 specifications of tires under various brands, including "Wind God" and "Wind Power"[25]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[67]. - The company has committed to minimizing related party transactions with Fengshen Co. and its subsidiaries during the reporting period[84]. - The company will strictly adhere to the lock-up period for shares and comply with relevant regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange[86]. - The company has maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[90]. - The company has no significant litigation or arbitration matters during the reporting period[90]. Research and Development - The company's R&D expenses increased by 32.25% to ¥141,107,089.58, reflecting a commitment to innovation[49]. - The company holds a total of 313 patents and has participated in the formulation of 75 national standards and 19 industry standards[37]. - The company is focused on promoting key technologies from Pirelli, enhancing product performance across all product lines[43]. Environmental and Social Responsibility - The company is committed to green manufacturing and has adopted advanced treatment technologies to ensure pollutant emissions are consistently below national standards[79]. - The company has achieved a 100% employment rate for capable and willing laborers among the poverty-stricken population in its supported villages[81]. - The company has actively participated in rural revitalization efforts, enhancing the self-development capabilities of local village committees[81].

股票代码：600469 股票简称：风神股份 公告编号：临 2021-027 风神轮胎股份有限公司 关于参加"河南辖区上市公司 2021 年投资者 网上集体接待日活动"的公告 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。 风神轮胎股份有限公司（以下简称"公司"）已于 2021 年 4 月 30 日召开 2020 年度业绩说明会。为进一步加强与投资者的互动交流，公司拟于 2021 年 6 月 8 日（周二）16:00-17:20 参加在全景网举办的"真诚沟通 传递价值"河南辖区上 市公司 2021 年投资者网上集体接待日活动，本次活动将采用网络远程的方式举 行，投资者可登录"全景•路演天下"（http://rs.p5w.net）参与本次互动交流。 出席本次网上集体接待日活动的人员有：公司董事会秘书刘新军先生、证券 事务代表孙晶女士（如遇特殊情况，参会人员可能有所调整）。届时，公司将就 2020 年度财务状况、公司治理、发展战略、规范运作等投资者关心的问题，通过 互动平台与投资者进行网络沟通和交流，欢迎广大投资者积极参与。 特 ...

2020 年年度报告 公司代码：600469 公司简称：风神股份 风神轮胎股份有限公司 2020 年年度报告（修订版） 1 / 176 2020 年年度报告 重要提示 三、 立信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王锋、主管会计工作负责人袁亮及会计机构负责人（会计主管人员）王小六声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 根据《上海证券交易所上市公司现金分红指引》及《公司章程》的有关规定，充分考虑广大 投资者的利益和合理诉求，在符合利润分配政策、保证公司正常经营和长远发展的前提下，经公 司第七届董事会第三十四次会议提议2020年度利润分配预案为：拟以2020年末总股本731,137,184 股扣减不参与利润分配的回购专户剩余股份1,686,313股，即729,450,871股为基数，每10股派发 现金红利0.6元（含税），共计派发现金股利43,767,052.26元（含税），本年度不送红股，也不 进行资本公积金转增股本。 公司利润分配方案公告后至实施前，公司可参与利润分配的股本如发生变动，拟按 ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥5.58 billion, a decrease of 5.67% compared to ¥5.91 billion in 2019[23]. - The net profit attributable to shareholders for 2020 was approximately ¥201.09 million, down 2.49% from ¥206.22 million in 2019[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 23.52% to approximately ¥168.20 million from ¥136.18 million in 2019[23]. - The net cash flow from operating activities for 2020 was approximately ¥439.18 million, an increase of 3.48% compared to ¥424.40 million in 2019[23]. - Basic earnings per share for 2020 was CNY 0.35, a decrease of 5.41% compared to CNY 0.37 in 2019[25]. - Diluted earnings per share for 2020 was also CNY 0.35, reflecting the same decrease of 5.41% from 2019[25]. - The weighted average return on equity decreased to 9.01% in 2020 from 9.85% in 2019, a decline of 0.84 percentage points[25]. - The company's main business sales revenue for the reporting period was CNY 5.476 billion, a decrease of 6.07% year-on-year, while the main business cost was CNY 4.460 billion, down 3.01% year-on-year[67]. - The company reported a net cash flow from operating activities significantly improved due to enhanced management of accounts receivable[81]. - The company’s gross profit margin for the main business remained stable, with a slight decrease in the domestic market gross margin to 14.94%[63]. Assets and Investments - The total assets at the end of 2020 were approximately ¥7.50 billion, an increase of 3.73% from ¥7.23 billion at the end of 2019[24]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥2.89 billion, a significant increase of 37.89% from ¥2.10 billion at the end of 2019[24]. - Long-term equity investments surged by 595.25% to ¥489,437,206.44, representing 6.52% of total assets[82]. - The company’s total assets increased significantly, with accounts receivable financing and long-term equity investments contributing to this growth[82]. - The company’s capital stock increased by 30% to ¥731,137,184.00 due to a non-public offering[82]. Dividends and Shareholder Returns - The company proposed a cash dividend of ¥0.6 per 10 shares, totaling approximately ¥43.77 million for the year 2020[5]. - The cash dividend per 10 shares for 2020 was RMB 0.6, compared to RMB 0.5 in 2019 and RMB 0.2 in 2018[123]. - In 2020, the company distributed cash dividends totaling approximately RMB 43.77 million, representing 21.77% of the net profit attributable to ordinary shareholders[123]. - The company has established a transparent dividend policy, committing to distribute at least 30% of the average distributable profits over the last three years in cash dividends[122]. Research and Development - The company’s R&D expenses increased by 18.14% to 268.64 million RMB, reflecting a commitment to enhancing core technology capabilities and product quality[57]. - The number of R&D personnel was 731, representing 11.61% of the total workforce[79]. - The company launched 95 new products in 2020, including 86 for trucks and buses, and 9 for engineering machinery[90]. - The company completed 14 technology cooperation projects with PTG, including 6 product development projects and 8 platform support projects, significantly enhancing R&D capabilities[92]. - The company introduced 8 simulation design platforms to enhance product design capabilities, focusing on material testing and various analyses[93]. Market Presence and Strategy - The company operates in over 140 countries and regions, with a strong presence in high-end markets in Europe and the US[32]. - The company aims to be a leader in quality within the tire industry and has initiated the BIG AEOLUS 2025 development strategy[50]. - The company is leveraging the "Belt and Road" initiative to expand its international presence and mitigate trade barriers[42]. - The company has established overseas subsidiaries and localized sales teams to enhance sales efficiency and reduce channel length in international markets[51]. - The company is focusing on high-performance tire products and has enhanced its production capacity for giant tires, launching a new customized product 46/90R57[91]. Sustainability and Compliance - The company was recognized as a "Green Factory" and "Green Supply Chain Management Enterprise" in 2020, highlighting its commitment to sustainability[32]. - The company operates in compliance with environmental regulations, with all major pollutants meeting discharge standards during the reporting period[154]. - The company has established a wastewater treatment system at its Taiyuan base, ensuring that all production and domestic wastewater is treated and meets environmental standards before discharge[155]. - The company has implemented emergency response plans for environmental incidents and heavy pollution weather at both bases[159]. - The company has established wastewater treatment systems at its Jiaozuo and Taiyuan bases with treatment capacities of 12,000 t/d and 2,400 t/d respectively[156]. Risks and Challenges - The company faces risks from international trade tensions, raw material price volatility, and exchange rate fluctuations, which could significantly impact its operations[117][119][120]. - The tire industry is facing significant pressure due to the COVID-19 pandemic, with trends indicating a shift towards global layout strategies and digital transformation in manufacturing[108]. - The company reported a decrease in export revenue by 16.90% to CNY 1.8 billion due to international trade barriers, while the replacement market revenue decreased by 13.24%[101]. Employee and Management - The total remuneration for all directors, supervisors, and senior management was 6.7948 million yuan[192]. - The company has a total of 1,099 employees in its major subsidiaries[195]. - The company conducted a total of 1,003 training sessions during the reporting period, with approximately 152,100 total training hours[197]. - The average training hours per employee were about 25 hours[197]. - The company focused on leadership training to enhance management skills and introduced a combination of online and offline business English training[197].

Financial Performance - The company's operating revenue for 2020 was approximately ¥5.58 billion, a decrease of 5.67% compared to ¥5.91 billion in 2019[22] - The net profit attributable to shareholders for 2020 was approximately ¥201.09 million, down 2.49% from ¥206.22 million in 2019[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 23.52% to approximately ¥168.20 million from ¥136.18 million in 2019[22] - The net cash flow from operating activities for 2020 was approximately ¥439.18 million, an increase of 3.48% compared to ¥424.40 million in 2019[22] - Basic earnings per share for 2020 was CNY 0.35, a decrease of 5.41% compared to CNY 0.37 in 2019[24] - Diluted earnings per share for 2020 was also CNY 0.35, reflecting the same percentage decrease of 5.41% from 2019[24] - The weighted average return on equity for 2020 was 9.01%, down 0.84 percentage points from 2019[24] - The company reported non-recurring gains of CNY 32,888,167.19 for 2020, compared to CNY 70,047,486.37 in 2019[29] - The company's sales revenue for the reporting period was CNY 5.476 billion, a decrease of 6.07% year-on-year, while the main business cost was CNY 4.460 billion, down 3.01% year-on-year[66] - The company’s financial expenses decreased by 29.11% to CNY 65.49 million, attributed to a reduction in loan scale[65] Assets and Investments - The total assets at the end of 2020 were approximately ¥7.50 billion, reflecting a 3.73% increase from ¥7.23 billion at the end of 2019[23] - The net assets attributable to shareholders increased by 37.89% to approximately ¥2.89 billion from ¥2.10 billion at the end of 2019[23] - Long-term equity investments rose significantly to CNY 489,437,206.44, accounting for 6.52% of total assets, a 595.25% increase from CNY 70,397,352.88 in the previous period[81] - The company reported a net cash outflow from investing activities of CNY -71,532,593.15, compared to CNY -71,136,534.10 in the previous period[81] Dividends and Shareholder Returns - The company proposed a cash dividend of ¥0.6 per 10 shares, totaling approximately ¥43.77 million for the year[5] - The cash dividend per 10 shares for 2020 was 0.6 RMB, compared to 0.5 RMB in 2019 and 0.2 RMB in 2018[122] - In 2020, the company distributed cash dividends amounting to 43,767,052.26 RMB, representing 21.77% of the net profit attributable to ordinary shareholders[122] - The company has a cash dividend policy that ensures at least 30% of the average distributable profit over the last three years is distributed as cash dividends, barring special circumstances[121] Operational Efficiency and Strategy - The company utilizes a centralized procurement model to manage raw materials, which helps in controlling costs and improving economic efficiency[33] - The company adopts a production model of "sales-driven production, production-promoted sales, and balance between production and sales" to optimize operational efficiency[34] - The company launched a digital business innovation platform, AMVA2.0, to enhance operational efficiency and support dealer and retailer management[54] - The company implemented cost control measures, resulting in a decrease in the proportion of raw material costs to revenue, which improved profitability[61] - The company has established overseas subsidiaries and localized sales teams to shorten the distribution chain and improve sales and profitability in international markets[50] Research and Development - The company made significant progress in R&D, with a breakthrough in TBR ultra-low rolling resistance performance, achieving a rolling resistance coefficient reduction of 18.4% for the 12R22.5 heavy-duty specification, reaching the European label A level[51] - The company’s R&D expenses increased by 18.14% year-on-year, reflecting a commitment to enhancing core technology capabilities[56] - The company launched 95 new products in 2020, including 86 for truck and passenger car tires and 9 for engineering machinery tires[89] - The application of new materials improved the wear resistance and heat resistance of products, enhancing overall performance[92] Market Presence and Expansion - The company operates in over 140 countries and regions, with a strong presence in high-end markets in Europe and the US[31] - The company has over 300 overseas primary distributors, covering most countries and regions globally, and has developed over 200 primary distributors in China[35] - The company is responding to external challenges by expanding its international presence and leveraging the "Belt and Road" initiative[41] - The company aims to be a leader in quality within the tire industry and has initiated the BIG AEOLUS 2025 development strategy[49] Compliance and Governance - The company has committed to minimizing related party transactions with its subsidiaries to avoid conflicts of interest[123] - The company has outlined a strategy to ensure compliance with legal and regulatory requirements in its related party transactions[123] - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations[196] - The board of directors includes independent directors who contribute to corporate governance and oversight[184] Environmental and Social Responsibility - The company has implemented environmental protection measures, ensuring all major pollutants were within discharge standards during the reporting period[152] - The company has constructed wastewater treatment systems with a capacity of 12,000 tons/day and 2,400 tons/day at its two bases[153] - The company invested a total of RMB 2.02 million in poverty alleviation efforts, including RMB 0.89 million in material assistance[147] - The company plans to continue monitoring and supporting poverty alleviation efforts to prevent a return to poverty[149]