Financial Performance - Operating revenue for the first nine months decreased by 21.98% to CNY 4.21 billion, primarily due to the sale of certain subsidiaries[20] - Net profit attributable to shareholders was a loss of CNY 512.74 million, a decline of 140.11% year-on-year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by approximately 88.97% to CNY 19.25 million[21] - The company reported a net profit attributable to shareholders of -¥513 million for the first nine months of 2019, primarily due to an investment loss of ¥575 million related to Zhongli New Materials and a significant decline in some business revenues[91] - The company anticipates a potential net loss for the entire year of 2019[92] - The company reported a net loss of CNY 1,568,096,693.24 for the current period, compared to a loss of CNY 617,770,558.44 in the previous year[109] Assets and Liabilities - Total assets at the end of the reporting period decreased by 32.46% to CNY 12.20 billion compared to the end of the previous year[17] - The company’s total assets decreased by CNY 5.86 billion, a decline of 32.46%, due to changes in consolidation scope and active debt reduction measures[27] - As of September 30, 2019, the company's total assets amounted to ¥12.20 billion, a decrease from ¥18.06 billion in the same period of 2018[94] - Current liabilities totaled ¥6.46 billion, down from ¥8.90 billion in the previous year[101] - The company’s total equity decreased to CNY 4,651,267,718.99 from CNY 5,563,836,465.47 year-over-year[109] Cash Flow - Cash flow from operating activities increased by 61.26% to CNY 53.59 million, mainly due to enhanced collection of accounts receivable[22] - Net cash flow from operating activities increased by 61% year-on-year, mainly due to enhanced collection efforts on accounts receivable[53] - Cash flow from operating activities for the first three quarters of 2019 was CNY 4,878,324,854.48, down from CNY 5,688,812,985.40 in the same period of 2018, a decrease of approximately 14%[133] - The total cash flow from operating activities was negative at -$38.48 million, worsening from -$7.04 million year-over-year[139] Investments and Equity - The company reported an investment loss of CNY 575 million due to a reduction in ownership of a subsidiary from 90% to 30%[23] - Long-term equity investments increased by 73% year-on-year, attributed to the company's change in accounting for Zhongli New Materials to the equity method[40] - The company agreed to invest 997.48 million RMB in Zhongli New Materials, acquiring 30% equity after the capital increase[55] - The company received a total of 1.1925 billion RMB from the equity transfer agreement with Wolong Nuclear Materials[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 79,323, with the top ten shareholders holding a combined total of 7.81% and 6.42% of shares respectively[34] - Gree Jintou increased its shareholding by 37,241,796 shares, accounting for 2.8135% of the total share capital, making it the largest shareholder with a total of 103,425,152 shares, or 7.8135%[65] Legal and Regulatory Issues - The company received an investigation notice from the China Securities Regulatory Commission on May 31, 2019, for suspected violations of information disclosure laws[68] - The company reported that the 2018 annual financial report received a qualified audit opinion due to issues related to fund misappropriation and accounting errors[70] - The company is pursuing legal actions for a total claim of RMB 167,172,699 against Shanghai Fenglong Technology Co., Ltd. and others for contract disputes[86] - A lawsuit was filed by Anhui Hongai Industrial Co., Ltd. against the company for breach of contract, claiming a total of RMB 78,135,800, including principal and penalties[88] Operational Changes - Revenue from the smart factory equipment business declined by approximately 37%, with major clients reducing fixed asset investments[22] - Operating expenses increased by 278% year-on-year, mainly due to estimated liabilities and input tax transfers[52] - The company is enhancing after-sales services to improve accounts receivable recovery rates[86] - The company is in the process of establishing a new subsidiary in Dongguan for the development of pipeline anti-corrosion products and technology[78] Miscellaneous - The company announced a bond interest payment of 56.70 CNY per bond for its 2017 corporate bonds, with a face value of 1,000 CNY[74] - The company plans to repurchase and cancel 17,891,600 shares of unvested restricted stock, which will reduce its registered capital by 17,891,600 CNY[77] - A new subsidiary, Zhuhai Deep Rui Intelligent Technology Co., Ltd., was established with a registered capital of RMB 30 million, focusing on smart equipment and distribution network business[78]

2019 年半年度报告 公司代码：600525 公司简称：长园集团 债券代码：136261、136466、143139 债券简称：16 长园 01、16 长园 02、 17 长园债 长园集团股份有限公司 2019 年半年度报告 1 / 208 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司法定代表人吴启权、主管会计工作负责人王伟及会计机构负责人韩雪洁声明：保证半年 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 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 重大风险提示 无 十、 其他 □适用 √不适用 2 / 20 ...

Financial Performance - Net profit attributable to shareholders decreased by 18.73% to CNY 65,610,640.75, impacted by changes in the scope of consolidation and new accounting standards[15]. - Operating revenue declined by 10.17% to CNY 1,416,433,091.70, with a comparable increase of 6.89% after adjusting for consolidation changes[15]. - Basic earnings per share decreased by 17.61% to CNY 0.0510, while diluted earnings per share decreased by 17.52% to CNY 0.0499[12]. - The company reported a net profit for the first quarter of 2019 is expected to show a significant decline compared to the same period last year due to changes in financial asset valuation standards[46]. - The company reported a significant decrease in investment income due to the reclassification of financial assets, with previous gains of ¥192.76 million from the sale of available-for-sale financial assets not being recognized in the current period[46]. - The company reported a net loss of ¥545,722,782.30 for the period, compared to a loss of ¥547,960,595.89 in the previous period[62]. - The company reported a total profit of $39,263,039.10 in Q1 2019, a decrease of 59.32% from $96,653,350.30 in Q1 2018[67]. - The company experienced a significant increase in financial expenses, totaling $132,746,373.22 in Q1 2019, compared to $146,350,518.68 in Q1 2018[67]. Assets and Liabilities - Total assets decreased by 10.86% to CNY 16,096,899,587.61 compared to the end of the previous year[12]. - The company reported a decrease in asset-liability ratio from 69.19% at the beginning of the year to 66.34% by the end of the quarter, primarily due to the sale of equity in Changyuan Huasheng and financial assets to repay loans[34]. - The company's total assets decreased from ¥18,057,834,610.71 on December 31, 2018, to ¥16,096,899,587.61 as of March 31, 2019, reflecting a reduction of approximately 10.9%[55]. - The company's total liabilities decreased from ¥10,811,544,856.11 on December 31, 2018, to ¥10,745,359,396.52 as of March 31, 2019, showing a slight decline of about 0.6%[55]. - Total liabilities decreased from ¥12,493,998,145.24 to ¥10,679,486,857.71, a reduction of approximately 14.5%[57]. - Total equity attributable to shareholders decreased from ¥5,341,816,516.30 to ¥5,290,889,608.06, a decline of about 0.95%[57]. Cash Flow - Net cash flow from operating activities increased significantly to CNY 120,616,932.76, a turnaround from a negative CNY 192,257,736.95 in the same period last year[12]. - Cash inflow from operating activities was 1,819,731,022.73 CNY, down from 2,015,137,568.12 CNY year-over-year, representing a decrease of approximately 9.7%[79]. - Net cash flow from investment activities was 867,405,379.74 CNY, a recovery from -502,005,955.15 CNY year-over-year[79]. - Net cash outflow from financing activities was -1,158,664,593.67 CNY, contrasting with a positive cash flow of 705,920,750.91 CNY in the previous year[81]. - The company paid 1,460,297,295.84 CNY in debt repayments during the financing activities[81]. Shareholder Information - The total number of shareholders at the end of the reporting period was 81,870, with the largest shareholder holding 7.81% of the shares[18]. - Total equity attributable to the parent company is CNY 5,341,816,516.30, with total equity (or shareholders' equity) amounting to CNY 5,563,836,465.47[92]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 31,293,385.09, which are closely related to its normal business operations[16]. - Other income increased due to a rise in government subsidies received during the reporting period[32]. Inventory and Receivables - The company's inventory as of March 31, 2019, was ¥1,319,185,075.76, down from ¥1,423,547,828.12 on December 31, 2018, representing a decrease of about 7.3%[52]. - The accounts receivable as of March 31, 2019, totaled ¥3,492,189,843.66, down from ¥3,898,022,000.12 as of December 31, 2018, indicating a decrease of about 10.4%[52]. - The company has committed to ensuring that the collection rate of accounts receivable from 2017 reaches at least 90% by December 31, 2019, or will provide compensation for any shortfall[45]. - The company is actively pursuing legal action against several parties to enforce the collection of receivables, indicating a proactive approach to managing its financial obligations[45].

Financial Performance - The company reported a net profit of -26,626,686.79 RMB for the year 2018, resulting in a total distributable profit of -547,960,595.89 RMB after accounting for previous years' undistributed profits and cash dividends paid [7]. - The company did not meet the conditions for cash dividends due to a high debt ratio and negative net profit, leading to no profit distribution or capital reserve increase for 2018 [8][10]. - The auditing firm issued a qualified opinion on the financial report for 2018, raising concerns about the accuracy of the financial statements [6][8]. - The company's operating revenue for 2018 was approximately CNY 7.14 billion, a slight increase of 0.09% compared to 2017 [27]. - Net profit attributable to shareholders for 2018 was CNY 111.67 million, an increase of CNY 185.99 million from the previous year [31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by CNY 671.30 million year-on-year, primarily due to declining gross margins in the electric vehicle materials and smart factory equipment segments [31]. - The basic earnings per share for 2018 was CNY 0.09, compared to a loss of CNY 0.06 in 2017 [28]. - The weighted average return on equity for 2018 was 1.95%, recovering from -1.20% in 2017 [28]. - The overall gross margin for the reporting period was 41.11%, a decrease of 4.63 percentage points year-on-year, primarily due to a 9.74 percentage point drop in the electric vehicle materials segment [73]. - The company reported a significant net loss attributable to shareholders after excluding non-recurring gains and losses, primarily due to investment income and substantial asset impairment [61]. Financial Health and Liabilities - The company has significant interest-bearing liabilities, which contribute to high financial expenses, impacting its operational stability [8]. - The company's total liabilities and financial obligations remain a critical area of focus for future financial health and operational strategies [8]. - The company has a bank loan and bond balance of approximately 76.77 billion RMB, indicating significant financial obligations [173]. - Financial expenses increased significantly by 42.45% due to a rise in interest expenses from higher interest-bearing debt balances [75]. - The company’s long-term borrowings decreased to 108,088,800.00 yuan, with land use rights valued at 34,202,441.99 yuan used as collateral [112]. Strategic Focus and Development - The company plans to focus on long-term development interests and will not pursue profit distribution or capital reserve increases in the near future [10]. - The company has acknowledged potential risks in its future development strategies, which are detailed in the report [12]. - The company has shifted its focus to "one main and one auxiliary" strategy, emphasizing industrial and power system digitalization while also developing electric vehicle-related materials [40]. - The company aims to enhance its smart grid and smart manufacturing sectors, leveraging existing intelligent equipment to promote industrial automation [40]. - The company is actively developing new products in the electric vehicle charging systems and energy storage solutions, aligning with national energy policies [48]. - The company is committed to enhancing its research and development capabilities in lithium-ion battery materials and protective solutions for electronic circuits [49]. - The company is exploring opportunities in the intelligent manufacturing sector, particularly in the garment industry, to address the challenges of labor cost increases and the need for efficiency [147]. Research and Development - The company has invested significantly in R&D, with 355 copyrights and 1,068 patents, including 23 international invention patents [60]. - Research and development expenses increased by 16.41% to 61,474.05 million yuan, with total R&D investment reaching 63,740.80 million yuan, which is 8.93% of operating revenue [100]. - The number of R&D personnel reached 3,307, accounting for 36.82% of the total workforce [100]. Risk Management - The company has identified risks related to international trade protectionism and currency fluctuations, which could affect its competitiveness in overseas markets [168]. - The company is committed to enhancing its risk management processes to mitigate the impact of raw material cost increases due to environmental regulations [168]. - The company faced a risk of reliance on major customers, with a notable impact from the loss of a significant client, resulting in substantial losses for its subsidiary Zhongli New Materials in 2018 [168]. - The company has emphasized the importance of internal control and compliance supervision to manage risks associated with acquisitions and integration of subsidiaries [170]. Shareholder Commitments and Dividends - The company plans to distribute a cash dividend of 0.09 RMB per share, totaling 119,220,943.68 RMB, based on a total share capital of 1,324,677,152 shares as of the end of the reporting period [172]. - The company has not proposed a cash dividend for 2018, despite having positive distributable profits, due to ongoing funding needs for business development and acquisitions [178]. - The actual controller and shareholders committed to not reducing their holdings of company stock for 6 months after increasing their shares, starting from June 1, 2017 [181]. - Shandong Kexing Pharmaceutical Company committed to increasing its stake in the listed company by no less than 1% and no more than 3% of the total share capital, with a maximum purchase price of 16.8 yuan per share, starting from January 12, 2018 [181]. Acquisitions and Investments - The company completed the sale of 75% equity in Changyuan Electronics for RMB 1,192.5 million, with the net profit of Changyuan Electronics in 2017 being RMB 103.81 million [139]. - The company signed a share purchase agreement to acquire 100% equity of Opfi for €28.1821 million (approximately RMB 222.69 million) and a contingent consideration not exceeding €7.056 million (approximately RMB 54.50 million) [196]. - The cumulative adjusted EBITDA target for Opfi for 2017 and 2018 was set at €8.605 million, with a threshold of €7.7445 million for the second phase of contingent consideration [197]. - The company recognized an impairment provision for goodwill amounting to RMB 48.2728 million based on a third-party valuation of Opfi's enterprise value [198]. Market Position and Growth - The electric power equipment industry is expected to grow significantly due to the increasing demand for automation and smart technologies in the energy sector [48]. - The company is positioned in the leading segment of the new energy vehicle supply chain, benefiting from policy adjustments favoring high-performance battery technologies [153]. - The smart grid construction is expected to create a market capacity exceeding RMB 620 billion from 2010 to 2020, driven by the development of new energy and distributed power sources [148]. - The company is positioned to benefit from the construction of a ubiquitous power Internet of Things, with plans to establish this by 2021 [151].

Financial Performance - Net profit attributable to shareholders increased by 103.62% to CNY 1.28 billion for the first nine months of 2018[10] - Basic earnings per share rose by 102.36% to CNY 0.9778, reflecting the significant increase in net profit[10] - The company reported a decrease of 59.90% in net profit attributable to shareholders after deducting non-recurring gains and losses, primarily due to poor performance from subsidiaries[10] - Net profit for Q3 2018 was ¥110,540,683.48, a decline of 71.2% from ¥384,686,222.95 in Q3 2017[61] - The company reported a total comprehensive income of -¥131,998,008.02 for Q3 2018, compared to ¥457,148,514.46 in Q3 2017[61] - The company reported a total comprehensive income of -¥85,352,534.30 for the period, compared to ¥171,414,115.07 in the previous year[64] Cash Flow - Net cash flow from operating activities improved significantly to CNY 33.23 million, compared to a negative CNY 50.90 million in the same period last year[10] - Cash flow from operating activities showed a net inflow of ¥33,233,057.96, a recovery from a net outflow of ¥50,904,098.74 in the previous year[67] - The net cash flow from operating activities for the first nine months of 2018 was -7,044,514.32 RMB, an improvement from -39,023,498.98 RMB in the same period last year[69] - The company reported cash outflows for operating activities totaling 92,378,103.75 RMB, down from 490,397,473.34 RMB in the previous year[69] Assets and Liabilities - Total assets increased by 7.93% to CNY 22.17 billion compared to the end of the previous year[8] - Total current assets increased to ¥10,237,092,433.89 from ¥8,693,853,208.95, representing a growth of approximately 17.7%[51] - Total liabilities increased to ¥13,065,398,468.22 from ¥12,321,443,795.42, which is an increase of approximately 6.0%[53] - The company's total liabilities increased to ¥8,020,244,514.08 in Q3 2018, up from ¥6,739,347,107.15 in Q3 2017[60] Investments - The company sold 75% of its stake in Changyuan Electronics, contributing to a substantial increase in investment income[10] - Investment income skyrocketed by 758% year-on-year, attributed to the sale of 75% equity in Changyuan Electronics and available-for-sale financial assets[33] - The company recorded a significant increase in cash inflow from investment activities, totaling ¥1,206,291,380.76, compared to ¥193,940,194.77 in the previous year[67] - Cash received from investment income was 503,686,606.07 RMB, an increase from 460,517,642.13 RMB year-on-year[69] Shareholder Information - The total number of shareholders reached 48,534 by the end of the reporting period[14] - The top ten shareholders held a total of 7.81% of shares, with Shandong Kexing Pharmaceutical being the largest shareholder[14] - The total shareholding of Shenzhen Cangjin No.1 Investment Enterprise and its concerted actors reached 172,149,698 shares, accounting for 12.9956% of the total share capital[38] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 65.82 million during the reporting period, which are closely related to its normal business operations[12] Research and Development - Development expenditures grew by 243% year-on-year, driven by increased investment in automation equipment and lithium battery separator R&D projects[20] - Research and development expenses for Q3 2018 were ¥93,696,599.67, a decrease of 9.3% from ¥103,017,411.55 in Q3 2017[60] Impairment and Receivables - The company plans to conduct impairment testing for Zhongli New Materials' goodwill, which has a current balance of CNY 1.32481 billion, by the end of 2018[43] - Longyuan H Eagle has an accounts receivable balance of CNY 309.3477 million as of September 30, 2018, with a 20% special bad debt provision made due to payment disputes[47] - The company has a receivable balance of approximately CNY 155 million from Watma, with a 10% special bad debt provision already made[44] Market Conditions - The overall market price for similar battery pack products has decreased to 60%-80% of the purchase price, prompting the company to handle the purchased battery packs cautiously[46]

Financial Performance - The company's operating revenue for the first half of 2018 was RMB 3,536,361,533.17, representing a 14.42% increase compared to RMB 3,090,607,085.11 in the same period last year[17]. - The net profit attributable to shareholders of the listed company surged by 330.72% to RMB 1,140,152,005.73 from RMB 264,707,682.44 year-on-year[17]. - The basic earnings per share increased by 330.20% to RMB 0.8733, while diluted earnings per share rose by 329.31% to RMB 0.8539[18]. - The net cash flow from operating activities showed a significant improvement, with a net outflow of RMB 72,135,284.48, compared to a net outflow of RMB 319,749,758.06 in the previous year[17]. - The company's net assets attributable to shareholders reached RMB 8,726,856,591.34, marking a 14.86% increase from RMB 7,597,808,518.10 at the end of the previous year[17]. - The total assets of the company increased by 9.84% to RMB 22,557,465,259.93 from RMB 20,537,416,553.11 at the end of the previous year[17]. - The net profit excluding non-recurring gains and losses decreased by 43.85% to RMB 128,791,884.12, primarily due to increased interest expenses and declines in the performance of subsidiaries[19]. - The company reported a significant non-recurring gain of RMB 1,052,847,645.91 from the sale of 75% equity in Changyuan Electronics[21]. Operational Developments - Zhongli New Material faced order shortages due to the impact of customer Shenzhen Watma Battery Co., Ltd. and national new energy policy adjustments, significantly affecting half-year performance[25]. - Zhongli New Material has successfully developed new products (7μm and 5μm) and expanded its customer base to include CATL, BYD, and others, laying a foundation for future performance recovery[25]. - Changyuan Weian's Type-C charging line protection PTC product has passed evaluations from major domestic mobile phone manufacturers and is awaiting mass production[26]. - Changyuan Huasheng's production capacity increased with the successful launch of a factory capable of producing 5,800 tons of electrolyte additives annually, leading to significant cost reductions and enhanced core competitiveness[27]. - LiFSI product has passed testing from over ten clients and is expected to enter mass supply in the second half of the year[27]. - Changyuan Electric Power's promotion of "restoring cable body structure" (MMJ) cable accessories saw over 30% growth in the first half of the year[31]. - The company achieved significant growth in overseas sales during the reporting period, indicating successful market expansion efforts[27]. - Changyuan Gongchuang maintained the second market position in microcomputer anti-error solutions, enhancing product development capabilities[31]. Financial Position and Investments - Other receivables increased by 429.91%, primarily due to the receivable from the sale of 75% equity in Changyuan Electronics[32]. - Long-term equity investments grew by 36.55% as a result of the remaining 25% equity in Changyuan Electronics being accounted for as long-term investments[32]. - The company sold 75% of its stake in Changyuan Electronics to Shenzhen Woreal Materials Co., Ltd., while still consolidating its profits for the first half of 2018[39]. - The development expenditure increased by 167.02%, driven by new product R&D projects in automation equipment and lithium battery separators[33]. - The company’s investment properties increased by 287.08% due to the completion of the Nanjing base and the addition of rental properties[32]. - The company’s short-term borrowings rose by 40.33%, primarily to supplement working capital and repay corporate bonds[33]. Shareholder and Equity Information - The company approved a three-year shareholder return plan during the first extraordinary general meeting on February 12, 2018[68]. - The company has committed to not reducing its shareholdings during the specified period of six months after the completion of share increases, with a minimum increase of 1% and a maximum of 3% of the total share capital[73]. - The company confirmed that it would not engage in any business activities that could directly or indirectly compete with its current operations[74]. - The company has a plan to increase its shareholding in the listed company, with a purchase price not exceeding 16.8 yuan per share[73]. - The company has maintained compliance with all commitments made during the reporting period[74]. - The total number of ordinary shareholders reached 36,445 by the end of the reporting period[109]. - The total number of shares decreased from 1,325,011,352 to 1,324,677,152 due to the cancellation of 334,200 restricted shares[105]. Debt and Financing - The company has a bank loan of 66 million CNY due to China Export-Import Bank, with 22 million CNY already deducted from its account due to financial difficulties[91]. - As of the end of the reporting period, there remains an outstanding debt of 44 million CNY[91]. - The company has secured a total credit line of ¥959,000,000 from various banks, enhancing its financial flexibility[140]. - The company plans to increase its credit line by an additional ¥125,000,000 to support operational needs[140]. - The company has committed to not distributing profits or making significant investments if it anticipates difficulties in debt repayment[141]. Environmental Compliance - Longyuan Huasheng has implemented a risk analysis and emergency response plan for potential environmental pollution incidents, which has been revised and filed with the local environmental protection bureau[95]. - The company has established a comprehensive environmental monitoring system, including online monitoring of wastewater discharges connected to government monitoring systems[96]. - The company has maintained compliance with environmental regulations across its subsidiaries, with all major pollutants meeting the required standards[99][100][101]. Corporate Governance - The company has not reported any changes in the board of directors, supervisors, or senior management personnel during the reporting period[118]. - The company held an election for the seventh board of directors and supervisory board on July 6, 2018[119]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[188]. Strategic Focus - The company continues to focus on technological leadership and strategic acquisitions to optimize its industry structure and enhance its market position[24]. - The company is primarily engaged in the manufacturing of materials related to electric vehicles and other functional materials, as well as smart factory equipment and smart grid devices[182]. - The company is involved in investment and real estate leasing, diversifying its revenue streams beyond manufacturing[182].

Financial Performance - The company's total revenue for 2017 was ¥7,432,956,015.32, representing a year-on-year increase of 27.08%[18] - The net profit attributable to shareholders for 2017 was ¥1,136,394,230.68, a significant increase of 77.55% compared to the previous year[18] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥636,878,247.86, reflecting a growth of 15.76% year-on-year[18] - The basic earnings per share for 2017 was ¥0.88, up 66.04% from ¥0.53 in 2016[19] - The company's total assets at the end of 2017 reached ¥20,537,416,553.11, an increase of 31.48% compared to the previous year[18] - The company's gross profit margin increased by 0.58 percentage points, driven by improvements in the smart factory equipment segment[51] - The total revenue for the year reached 743,295.60 million, with a gross margin of 45.18%, reflecting an increase of 0.58 percentage points compared to the previous year[54] - The electric vehicle segment generated revenue of 203,759.96 million, with a gross margin of 39.51%, up 1.45 percentage points year-over-year[53] - The smart factory equipment segment saw a revenue increase of 43.08%, totaling 243,125.34 million, with a gross margin of 52.29%, up 4.17 percentage points[53] - The smart grid equipment segment reported revenue of 289,440.92 million, with a gross margin of 42.41%, a decrease of 2.81 percentage points compared to the previous year[53] Cash Flow and Investments - The company reported a decrease of 68.38% in net cash flow from operating activities, totaling ¥140,745,069.47[18] - The company reported a net cash flow from operating activities of ¥191,649,168.21 in Q4 2017, following a positive cash flow in Q3[22] - The net cash flow from operating activities decreased by 68.38% due to rising raw material procurement costs[68] - The net cash flow from financing activities increased by 38.09% to ¥287,513.91 million, primarily due to bond issuance and bank financing[68] - The company sold shares of Jianrui Woneng, realizing an investment gain of ¥225.91 million from the sale of 29,188,724 shares[69] - The acquisition of Zhongli New Materials generated an investment income of 140 million yuan, with the overall equity valuation of Zhongli New Materials at 2.4 billion yuan[70] Business Segments and Growth - The company attributed revenue growth to significant increases in the smart factory equipment sector and electric vehicle-related materials, influenced by recent acquisitions[20] - The electric vehicle-related materials segment achieved a production capacity of 5,800 tons for lithium battery electrolyte additives, maintaining a leading position globally[28] - The automotive-related business saw a market share increase of approximately 30% compared to the previous year, with significant client approvals from major automotive manufacturers[28] - The smart factory equipment segment experienced steady growth in sales of standardized equipment, contributing to the company's leadership in the garment automation equipment industry[29] - The company plans to continue expanding its production capacity and market presence in the electric vehicle materials sector, driven by favorable long-term market trends[27] - The company aims to capture a significant share of the electric vehicle charging infrastructure market, with plans to build 600,000 charging stations by 2018, including 100,000 public and 500,000 private stations[106] Acquisitions and Strategic Initiatives - The company acquired Finnish automation equipment company Opfi, enhancing its capabilities in industrial automation and smart factory solutions[29] - The company emphasized a combined development model of "internal growth" and "external mergers and acquisitions" to optimize its industrial structure[25] - The company is actively pursuing strategic acquisitions to bolster its operational capacity and market share[150] - The company is committed to optimizing its industrial structure and pursuing mergers and acquisitions to strengthen its market position[112] Shareholder and Governance Matters - The company plans to distribute a cash dividend of ¥0.9 per 10 shares, totaling ¥119,220,943.68, with the remaining profit to be retained for future distribution[5] - The company reported a cash dividend of 0.08 RMB per share, totaling 105,384,908.16 RMB, based on a total share capital of 1,317,311,352 shares[123] - The company’s net profit for 2017 was 1,136,394,230.68 RMB, with a cash dividend payout ratio of 10.49%[126] - The company has committed to timely and accurate disclosure of information regarding related transactions to protect shareholder interests[131] Environmental and Compliance - The company has not faced any environmental pollution disputes or incidents during the reporting period[165] - The total emissions of major pollutants from the company's subsidiary, Changyuan Huasheng, were below the permitted limits, with specific emissions reported for various pollutants[165] - Longyuan Huasheng has implemented a comprehensive VOC emission detection and repair program, ensuring compliance with environmental standards[166] - The company has established an online monitoring system for wastewater discharge, which is connected to the relevant government monitoring systems[167] Market Position and Future Outlook - The company is positioned to benefit from the transition towards smart manufacturing, with a focus on intelligent factory equipment and solutions[106] - The company is actively enhancing its technological capabilities in the electric vehicle materials sector, aiming to become a leading player in the market[106] - The company plans to enhance the market integration of automated processing equipment in the apparel industry, focusing on promoting automation solutions to help clients reduce costs and improve efficiency[116] - The company is focusing on maintaining strategic customer relationships in the intelligent factory equipment sector and enhancing R&D investments for precision testing of new products[115]

Financial Performance - Operating revenue rose by 34.97% to CNY 1.58 billion year-on-year[6] - Net profit attributable to shareholders increased by 83.33% to CNY 80.73 million compared to the same period last year[6] - Basic earnings per share improved by 88.72% to CNY 0.0619 per share[6] - The company reported a 29.49% decrease in net profit attributable to shareholders compared to the previous quarter[6] - Total revenue for Q1 2018 reached ¥1,576,741,630.65, an increase of 35% compared to ¥1,168,206,532.07 in the same period last year[47] - Operating profit for Q1 2018 was CNY -91,324,910.73, compared to CNY -46,907,813.14 in the previous year, indicating a decline in profitability[51] - Net profit for Q1 2018 was CNY -77,258,268.51, worsening from CNY -46,907,813.14 year-over-year[51] - The company reported a total comprehensive income of CNY 431,068,245.70 for Q1 2018, compared to CNY -46,907,813.14 in the same period last year[51] - Basic earnings per share for Q1 2018 was CNY 0.0619, up from CNY 0.0328 in the previous year[49] Assets and Liabilities - Total assets increased by 6.34% to CNY 21.84 billion compared to the end of the previous year[6] - Non-current assets totaled ¥12,673,648,732.90, up from ¥11,843,563,344.16, reflecting a growth of approximately 7%[40] - Current liabilities increased to ¥8,346,901,977.60 from ¥7,874,129,540.32, representing a rise of about 6%[40] - Short-term borrowings rose significantly to ¥4,544,169,492.08, compared to ¥3,585,163,662.60, marking an increase of approximately 27%[40] - Long-term borrowings increased to ¥2,181,230,630.18 from ¥1,629,915,324.11, which is an increase of about 34%[41] - Total liabilities amounted to ¥12,977,855,261.73, up from ¥12,321,443,795.42, indicating a growth of around 5%[41] - Owner's equity reached ¥8,860,995,926.87, compared to ¥8,215,972,757.69, reflecting an increase of approximately 8%[41] - The company’s other receivables increased to ¥1,191,652,652.52 from ¥861,012,568.91, showing a growth of about 38%[44] - The company’s total assets increased to ¥21,838,851,188.60 from ¥20,537,416,553.11, representing a growth of approximately 6%[41] Cash Flow - Cash flow from operating activities showed a significant improvement, with a reduction in losses from CNY 257.99 million to CNY 192.26 million[6] - The balance of cash and cash equivalents at the end of the period was approximately ¥1.46 billion, slightly down from ¥1.47 billion at the beginning of the year[39] - Cash inflow from sales of goods and services reached ¥1,847,145,802.99, an increase from ¥1,406,813,949.98 in the previous period, representing a growth of approximately 31%[53] - Net cash flow from operating activities was -¥192,257,736.95, an improvement compared to -¥257,987,115.51 in the same period last year[53] - Total cash inflow from investment activities was ¥166,094,628.17, significantly higher than ¥1,075,115.26 in the previous period[54] - Cash outflow from investment activities totaled ¥668,100,583.32, down from ¥856,091,010.21 in the previous period, indicating a reduction of about 22%[54] - Net cash flow from financing activities was ¥705,920,750.91, compared to ¥241,551,555.81 in the same period last year, showing an increase of approximately 192%[54] - Cash inflow from borrowing was ¥1,976,148,381.13, up from ¥1,236,030,512.60 in the previous period, reflecting a growth of about 60%[54] - Cash outflow for debt repayment was ¥1,349,681,934.99, compared to ¥913,387,344.62 in the previous period, indicating an increase of approximately 48%[54] - Cash inflow from other financing activities was ¥711,392,812.73, significantly higher than ¥151,091,685.26 in the previous period, representing a growth of over 370%[57] - The net cash flow from investment activities was -¥502,005,955.15, an improvement from -¥855,015,894.95 in the previous period, indicating a reduction in cash outflow[54] Investments and Expenditures - The increase in prepayments was mainly due to higher raw material purchases[12] - The balance of other current assets rose due to investments in financial products[13] - The company is investing in the construction of a new production base for smart grids and lithium battery separators, contributing to the increase in construction in progress[14] - Research and development expenditures increased, reflecting the company's commitment to innovation[16] - The company reported an increase in investment income from the sale of listed company stocks[27] - The company incurred financial expenses of CNY 76,139,377.13 in Q1 2018, compared to CNY 38,539,703.61 in the same period last year, reflecting a significant increase[50] Financing Activities - The company plans to issue convertible bonds and has received approval from the China Securities Regulatory Commission[30] - The company signed a settlement agreement with shareholder Wolong Nuclear Materials to sell 75% of Changyuan Electronics[31] - The balance of long-term borrowings increased due to additional bank loans[20] - The balance of other comprehensive income rose due to the increase in the fair value of available-for-sale financial assets[21] - Other comprehensive income after tax for Q1 2018 was CNY 508,326,514.21, with no prior year comparison available[51] - The company reported a tax expense of CNY 10,416,563.43 for Q1 2018, down from CNY 17,600,193.68 in the previous year[48]

1 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2017 年第三季度报告 一、 重要提示 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 徐成斌 | 董事 | 因公出差 | 许晓文 | | 秦敏聪 | 独立董事 | 因公出差 | 杨依明 | 2017 年第三季度报告 公司代码：600525 公司简称：长园集团 长园集团股份有限公司 2017 年第三季度报告 1.3 公司法定代表人许晓文、财务负责人黄永维及财务部经理颜色辉保证季度报告中财务报表的 真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 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( ...

Financial Performance - The company's operating revenue for the first half of 2017 was RMB 3,090,607,085.11, representing a 27.48% increase compared to RMB 2,424,436,179.21 in the same period last year[16]. - The net profit attributable to shareholders of the listed company decreased by 1.97% to RMB 264,707,682.44 from RMB 270,015,096.77 in the previous year[16]. - The net cash flow from operating activities showed a significant decline, amounting to RMB -319,749,758.06, compared to RMB -106,080,859.85 in the same period last year, reflecting a 201.42% decrease[16]. - The company's total assets increased by 4.35% to RMB 16,299,335,200.28 from RMB 15,619,959,987.45 at the end of the previous year[16]. - The gross profit margin for the reporting period was 44.57%, an increase of 2.91 percentage points compared to the previous year, attributed to the rising revenue share from the smart factory equipment segment[18]. - The basic earnings per share for the first half of 2017 was RMB 0.2030, a decrease of 1.69% from RMB 0.2065 in the same period last year[17]. - The weighted average return on net assets decreased by 1.25 percentage points to 3.66% compared to 4.91% in the previous year[18]. - The net profit after deducting non-recurring gains and losses was RMB 229,354,605.74, down 5.09% from RMB 241,661,582.55 in the previous year[16]. Business Segments and Growth - The company maintained its strategic focus on three main business segments: electric vehicle-related materials, smart factory equipment, and smart grid devices[24]. - Sales of automotive materials increased by 40%, with significant growth in overseas markets, particularly in North America and India[35]. - The company’s new product development in the communication sector has gained recognition from Samsung, leading to bulk usage[35]. - Changyuan Huasheng expects a 40% increase in sales for the year, driven by the launch of Tesla Model 3 and the ramp-up of production at the new factory[26]. - The company achieved a revenue of 309,060.71 million RMB, representing a year-on-year growth of 27.48%[34]. - The company reported a significant increase in financial expenses and ongoing R&D investments, which offset the growth in sales gross profit[18]. - The company’s new projects and customer development efforts resulted in a 40% increase in contract orders[27]. - Changyuan Heying, acquired in August 2016, reported a 366% increase in sales revenue and a 410% increase in net profit year-on-year[27]. Financial Management and Investments - R&D expenditure rose significantly by 56.83% to RMB 17,085.16 million, attributed to the inclusion of Changyuan and Ying and an increase in the number of R&D personnel[46]. - Financial expenses surged by 159.01% to RMB 11,821.18 million, mainly due to a substantial increase in bank borrowings and a decline in exchange gains[43]. - The company plans to temporarily use CNY 8,000 million of idle raised funds to supplement working capital for its subsidiary, with CNY 4,000 million already utilized as of June 30, 2017[62]. - The company has invested CNY 5,261.34 million in the smart grid product R&D project, with a cumulative investment of CNY 35,827.36 million, which has not yet generated any revenue[63]. - The company reported a financial expense of CNY 84,183,196.77, an increase from CNY 47,453,078.32 in the previous year[156]. Shareholder and Equity Information - The profit distribution plan for the half-year does not include any dividends or stock bonuses[73]. - The company plans to increase its stock holdings by no less than 1% and no more than 7% within six months, with a maximum purchase price of 22 CNY per share[76]. - The company has a commitment to not transfer shares obtained from the transaction for 12 months to ensure the feasibility of profit compensation commitments[76]. - The company’s major shareholders have agreed to a 36-month lock-up period for their shares post-listing[76]. - The total number of ordinary shareholders at the end of the reporting period was 30,903[105]. - The company has established agreements among major shareholders to act in concert, enhancing shareholder stability[109]. Debt and Financing Activities - The company issued bonds with a total balance of 700 million RMB at an interest rate of 4.50%[121]. - The company successfully issued bonds totaling RMB 1 billion in July 2017, with a final coupon rate of 5.67%[126]. - The credit rating for the company's bonds remains at AA, with a stable outlook as per the assessment by Pengyuan Credit Rating Agency[128]. - The company has a bond repayment plan where interest is paid annually, with the principal repayment scheduled for March 4, 2019, for the first phase and June 6, 2019, for the second phase[130][131]. - The company has completed the use of funds raised from previous bond issuances in 2016, complying with relevant regulations[127]. Operational and Market Expansion - The company is actively pursuing market expansion in emerging regions such as Vietnam, Cambodia, and Bangladesh, achieving record performance in these areas[38]. - The integration of subsidiaries in the smart grid equipment sector is underway, aiming to enhance operational efficiency and align with market trends[39]. - The company has a strategic plan to expand its market presence and enhance product offerings[113]. - The company is engaged in various activities, including import and export business, ordinary freight, and property leasing[176]. Compliance and Governance - The financial statements were approved by the board of directors on August 18, 2017, ensuring compliance with regulatory requirements[177]. - The company’s financial reporting complies with the disclosure rules set by the China Securities Regulatory Commission, ensuring transparency[182]. - The company has not experienced any expected or actual inability to pay bond principal or interest during the reporting period[139]. - The company has not reported any significant changes in net profit or risks for the upcoming reporting period[68].