证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2023-056 北汽蓝谷新能源科技股份有限公司 十届十六次董事会决议公告 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。 北汽蓝谷新能源科技股份有限公司（以下简称"公司"）十届十六次董 事会于 2023 年 8 月 4 日以邮件方式发出会议通知，于 2023 年 8 月 14 日以 通讯表决方式召开。本次会议由董事长召集并主持，应出席会议董事 11 名， 实际出席会议董事 11 名。公司监事和高级管理人员列席了会议。会议的召 开符合《中华人民共和国公司法》及《公司章程》的有关规定。 出席会议董事逐项审议并通过以下议案： 一、审议通过《关于北京高端智能生态工厂建设项目变更暨关联交易的 议案》 1、同意子公司北京新能源汽车股份有限公司（以下简称"北汽新能源"） 北京高端智能生态工厂建设项目迁址变更至北汽福田汽车股份有限公司（以 下简称"福田汽车"）多功能厂（以下简称"密云工厂"）。 2、同意北京高端智能生态工厂建设项目投资方案：项目总投资为 161,200 万元（不含税） ...

证券代码：600733 证券简称：北汽蓝谷 公告编号：临 2023-033 北汽蓝谷新能源科技股份有限公司 关于召开网上业绩说明会的预告公告 投资者可于 2023 年 5 月 15 日（星期一）15:00 前将需要了 解 与 关 注 的 问 题 通 过 电 子 邮 件 的 形 式 发 送 至 公 司 邮 箱 600733@bjev.com.cn 进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 一、 说明会类型 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: 会议召开时间：2023 年 5 月 16 日（星期二）15:00-16:00 会议召开地点：上海证券报·中国证券网 （https://roadshow.cnstock.com） 会议召开方式：网络平台在线交流互动 北汽蓝谷新能源科技股份有限公司（以下简称"公司"）于 2023 年 4 月 29 日披露了《2022 年年度报告》和《2023 年第一季度报告》。 为方便广大投资者更加全面深入地了解公司情况，公司拟定于 2023 年 5 月 16 日 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,497,324,319.01, representing a year-on-year increase of 44.31% due to growth in vehicle sales[3]. - The net profit attributable to shareholders was a loss of CNY 891,775,176.82, and the net profit after deducting non-recurring gains and losses was a loss of CNY 1,053,921,241.25[3]. - The weighted average return on net assets was -17.0655% due to losses impacting the average net assets attributable to ordinary shareholders[3]. - Net profit for Q1 2023 was a loss of ¥885,395,727.36, compared to a loss of ¥945,877,716.30 in Q1 2022, showing a slight improvement[12]. - Total comprehensive income for Q1 2023 was -¥927,831,591.82, compared to -¥943,810,288.98 in Q1 2022, showing a slight improvement[13]. Cash Flow - The net cash flow from operating activities was negative at CNY -1,218,268,580.20, a decrease of 1,079.83% compared to the same period last year, primarily due to increased cash payments for raw materials[3][5]. - Cash inflow from operating activities totaled ¥2,263,987,441.02, slightly down from ¥2,269,855,897.52 in Q1 2022[14]. - Net cash outflow from operating activities was -1,218,268,580.20, compared to a net inflow of 124,334,937.04 in the previous year[15]. - Total cash outflow from operating activities amounted to 3,482,256,021.22, up from 2,145,520,960.48 in the previous year[15]. - Cash inflow from investment activities totaled 622,035,476.21, significantly higher than 20,439,170.00 in the previous year[15]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 31,317,009,937.02, a slight decrease of 0.12% from the end of the previous year[3]. - Total liabilities rose to $25,939,754,119.23 from $25,049,324,501.12, indicating an increase of approximately 3.6%[11]. - Total equity attributable to shareholders decreased to $4,737,277,216.03 from $5,671,488,257.31, a decline of about 16.5%[11]. - Total non-current assets decreased to $13,473,791,560.43 from $14,031,914,806.96, reflecting a decrease of approximately 4.0%[10]. - Cash and cash equivalents increased to CNY 5,392,432,742.78 from CNY 4,900,910,705.09 at the end of the previous year[9]. Shareholder Information - The company had a total of 187,714 common shareholders at the end of the reporting period[6]. - The top shareholder, Beijing Automotive Group Co., Ltd., held 1,274,778,438 shares, accounting for 29.73% of the total shares[6]. Operating Costs and Expenses - Total operating costs increased to ¥3,609,366,318.80, up 30.0% from ¥2,777,704,162.95 in the same period last year[12]. - Research and development expenses increased to ¥228,644,011.14, up from ¥203,483,303.27 in the previous year, reflecting a focus on innovation[12]. - The company reported an investment loss of ¥8,737,813.10 in Q1 2023, worsening from a loss of ¥6,318,119.64 in the same quarter last year[12]. Other Financial Metrics - Basic and diluted earnings per share for Q1 2023 were both -¥0.2080, compared to -¥0.2232 in Q1 2022[13]. - Other comprehensive income after tax for Q1 2023 was -¥42,435,864.46, compared to ¥2,067,427.32 in Q1 2022, indicating a decline[13]. - The company received ¥51,476,820.11 in tax refunds during Q1 2023, significantly higher than ¥15,758,011.92 in Q1 2022[14].

Financial Performance - The company's operating revenue for 2022 was ¥9,514,270,368.62, representing a 9.40% increase compared to ¥8,696,826,071.34 in 2021[17]. - The net profit attributable to shareholders of the listed company was -¥5,464,876,312.33, slightly worse than -¥5,243,780,936.01 in the previous year[17]. - The net cash flow from operating activities decreased by 29.36% to ¥3,521,672,416.10 from ¥4,985,342,191.17 in 2021[17]. - The total assets at the end of 2022 were ¥31,354,411,910.73, down 19.77% from ¥39,080,883,211.51 at the end of 2021[17]. - The net assets attributable to shareholders of the listed company decreased by 49.00% to ¥5,671,488,257.31 from ¥11,121,454,859.75 in 2021[17]. - The revenue after deducting non-main business income was ¥5,847,913,932.19, which is a 17.32% increase from ¥4,984,428,626.01 in 2021[17]. - The company reported a net loss attributable to shareholders of 1.965 billion RMB for Q4 2022, with a total net loss of 5.465 billion RMB for the entire year[19]. - The company achieved a weighted average return on equity of -65.14% in 2022, a decline from -43.95% in 2021[18]. - The company reported a significant increase in credit impairment losses by 77.47%, totaling approximately 259 million RMB[38]. - The company reported a net loss of RMB 5,395.83 million in 2022, compared to a net loss of RMB 5,169.88 million in 2021, marking three consecutive years of losses[162]. Cash Flow and Investments - The net cash flow from operating activities was ¥3.52 billion, a decrease of 29.36% compared to the previous year[46]. - The company's cash flow from investing activities was negative at approximately -¥1.53 billion, indicating a reduction in investment activities compared to the previous year[46]. - The total cash inflow from operating activities was ¥16,216,654,225.94, up from ¥14,870,839,325.41 in the previous year, representing an increase of 9.0%[155]. - Cash outflow from operating activities totaled ¥12,694,981,809.84, compared to ¥9,885,497,134.24 in 2021, indicating a rise of 28.3%[155]. - The net cash flow from investing activities was -¥1,532,573,628.86, an improvement from -¥2,329,955,378.26 in 2021[156]. - The net cash flow from financing activities was -¥5,167,221,359.82, worsening from -¥243,969,174.36 in 2021[156]. - The ending cash and cash equivalents balance decreased to ¥2,655,252,308.70 from ¥5,833,374,881.28 in 2021, a decline of 54.5%[155]. Sales and Production - In 2022, the company achieved a total sales volume of 50,179 units and generated operating revenue of 9.514 billion RMB[22]. - The company produced 22,216 pure electric passenger vehicles, a decrease of 56.0% from the previous year[40]. - The cumulative sales of pure electric passenger vehicles reached 50,179 units, a year-on-year increase of 92.06%, while the cumulative production was 22,216 units, reflecting a significant increase of 248.81%[51]. - The company's total vehicle sales revenue for 2022 was CNY 58,447.76 million, a key business indicator[140]. Research and Development - The company completed the development of the BEEA3.0 centralized electronic and electrical architecture, achieving international advanced levels in vehicle motion control[22]. - The company developed a fourth-generation battery system, focusing on four key aspects: "no fire, all climate, no perceptible degradation, and rapid charging"[22]. - The company has established a comprehensive value chain system in the new energy passenger vehicle sector, including R&D, production, sales, and service, supported by a research team of 1,741 people[31]. - The total R&D investment amounted to approximately ¥1.65 billion, which is 17.38% of operating revenue, with capitalized R&D accounting for 86.17% of total R&D expenditures[43]. - Research and development expenses increased to CNY 1,248,970,927.24 in 2022, up from CNY 1,208,156,897.19 in 2021, indicating a focus on innovation[153]. Market and Competitive Landscape - The company plans to continue focusing on new energy technology development and market expansion strategies[5]. - The forecast for 2023 indicates that domestic new energy vehicle sales are expected to exceed 9 million units[25]. - The market share of domestic new energy vehicle brands reached 79.9% in 2022, reflecting a year-on-year increase of 5.4%[29]. - The company faces intensified competition in the new energy vehicle sector, with increasing market entry from cross-industry players and rapid technological advancements[64]. Governance and Compliance - The company held 2 shareholder meetings during the reporting period, ensuring compliance with the rules and protecting the rights of all shareholders, especially minority shareholders[67]. - A total of 9 board meetings were convened, with independent directors providing independent opinions on significant matters, ensuring effective governance[67]. - The company revised and improved its internal control documents, including the Articles of Association and various management rules, to enhance governance quality[67]. - The company has committed to maintaining the independence of its assets, personnel, finance, and operations as per the commitment letter signed in January 2018[68]. - The company has taken measures to avoid competition with its controlling shareholder, as outlined in the commitment letter signed in January 2018[68]. Environmental and Social Responsibility - The company has committed to reducing and regulating related party transactions, ensuring fair pricing and compliance with legal requirements[115]. - The company has established environmental protection mechanisms and is classified as a key pollutant discharge unit in its operational areas[100]. - The company invested a total of 1,000,400 RMB in poverty alleviation and rural revitalization efforts, focusing on purchasing agricultural products from supported regions[112]. - The company has implemented a performance evaluation mechanism for senior management, combining basic, performance, and reward salaries based on responsibility, performance, and contribution[95]. Future Outlook - The company aims to enhance brand recognition and user engagement through a marketing strategy focused on "Born to Break Boundaries, Intelligent Protection" in 2023[61]. - The company plans to improve product development by integrating user scenarios into the experience evaluation system, shifting from traditional manufacturing to value-driven experiences[62]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the automotive sector[72]. - The management emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[73].

Financial Performance - The company's operating revenue for Q3 2022 was ¥2,227,720,797.57, a decrease of 39.15% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was -¥1,318,463,085.46 for the quarter, with a year-to-date net profit of -¥3,499,645,320.89[4]. - The basic earnings per share for Q3 2022 was -¥0.31, with diluted earnings per share also at -¥0.31[4]. - The weighted average return on equity decreased by 10.01 percentage points to -15.89% for the quarter[4]. - Total operating revenue for the first three quarters of 2022 was CNY 5,706,771,006.44, a decrease of 6.4% compared to CNY 6,097,931,826.59 in the same period of 2021[14]. - Total operating costs increased to CNY 9,295,919,097.79, up 14.4% from CNY 8,996,186,943.16 year-over-year[14]. - Net profit attributable to shareholders of the parent company was a loss of CNY 3,499,645,320.89, compared to a loss of CNY 2,644,148,768.35 in the previous year[15]. - The company recorded a total comprehensive loss of CNY 3,456,693,967.73, compared to a loss of CNY 2,641,174,817.71 in the same period of 2021[15]. - Basic and diluted earnings per share were both CNY -0.82, compared to CNY -0.69 in the previous year[15]. Assets and Liabilities - Total assets at the end of Q3 2022 were ¥35,051,575,562.24, a decrease of 10.31% compared to the end of the previous year[5]. - The equity attributable to shareholders of the listed company was ¥7,639,224,349.00, down 31.31% year-on-year[5]. - Current assets totaled RMB 20,444,160,783.60, down from RMB 24,917,679,081.59 in the previous year[12]. - Total liabilities were reported at RMB 26,823,424,552.14, down from RMB 27,396,038,233.68[13]. - The company's equity attributable to shareholders decreased to RMB 7,639,224,349.00 from RMB 11,121,454,859.75, a decline of approximately 31.5%[13]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥2,646,662,959.95, a decrease of 13.29% compared to the same period last year[4]. - The company reported a net cash inflow from operating activities of CNY 10,036,510,820.31, an increase from CNY 9,933,122,267.47 in the same period last year[16]. - Operating cash inflow totaled CNY 12,033,606,761.95, an increase from CNY 10,558,896,995.22 in the previous year, reflecting a growth of approximately 14%[17]. - Operating cash outflow amounted to CNY 9,386,943,802.00, compared to CNY 7,506,478,789.36 in the same period last year, representing an increase of about 25%[17]. - Net cash flow from operating activities was CNY 2,646,662,959.95, down from CNY 3,052,418,205.86, indicating a decline of around 13% year-over-year[17]. - Net cash flow from investing activities was CNY -1,110,076,064.38, a decrease from CNY -1,380,265,769.21, showing an improvement of approximately 19%[17]. - Cash inflow from financing activities was CNY 7,647,386,095.25, down from CNY 10,490,619,262.14, reflecting a decline of about 27%[17]. - Net cash flow from financing activities was CNY -3,067,509,594.78, compared to CNY 451,521,796.30 in the previous year, indicating a significant decrease[17]. - The ending balance of cash and cash equivalents was CNY 4,302,452,182.07, down from CNY 5,545,631,475.68, representing a decline of approximately 22%[17]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 197,829[8]. - The largest shareholder, Beijing Automotive Group Co., Ltd., held 29.73% of the shares, totaling 1,274,778,438 shares[8]. Investments and Expenses - The company reported a significant increase in brand and channel construction investments, contributing to the overall loss in net profit[7]. - Research and development expenses for the first three quarters were CNY 627,150,913.94, slightly down from CNY 651,691,008.47 in the previous year[14]. - The company experienced a significant increase in financial expenses, totaling CNY 441,464,858.30, down from CNY 505,265,453.30 in the previous year[14]. - The investment income from joint ventures and associates showed a significant decline, reporting a loss of CNY 35,563,880.00 compared to a profit of CNY 51,642,779.94 in the previous year[14]. - Cash paid to employees decreased to CNY 840,298,366.57 from CNY 928,630,503.08, reflecting a reduction of about 10%[17]. - Cash paid for taxes increased to CNY 222,472,575.79 from CNY 178,849,671.22, indicating an increase of approximately 24%[17]. - Other comprehensive income after tax was CNY 18,467,534.79, compared to a loss of CNY 6,630,509.64 in the previous year[15].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥3.48 billion, representing a 42.76% increase compared to ¥2.44 billion in the same period last year[16]. - The net profit attributable to shareholders of the listed company was approximately -¥2.18 billion, compared to -¥1.81 billion in the same period last year[16]. - The net cash flow from operating activities increased by 110.39% to approximately ¥2.05 billion, up from ¥974.66 million in the previous year[16]. - The total assets at the end of the reporting period were approximately ¥37.90 billion, a decrease of 3.02% from ¥39.08 billion at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company decreased by 19.47% to approximately ¥8.96 billion, down from ¥11.12 billion at the end of the previous year[16]. - The basic earnings per share for the first half of 2022 was -¥0.5088, compared to -¥0.5001 in the same period last year[17]. - The weighted average return on net assets was -21.71%, compared to -16.60% in the previous year[17]. - The company reported a significant decrease in other income by 49.23% to approximately ¥82.74 million, attributed to reduced government subsidies[43]. - The company reported a net profit of -2.176 billion RMB for the reporting period, with a net profit attributable to shareholders of -2.181 billion RMB, indicating a significant loss compared to the previous year's net assets of 11.685 billion RMB[87]. - The company reported a total comprehensive income of -15,677,896.07 RMB, compared to -9,790,597.37 RMB in the same period of 2021[100]. Market and Sales Performance - In the first half of 2022, the cumulative production and wholesale sales of new energy vehicles reached 2.515 million and 2.466 million units, respectively, representing year-on-year growth of 128.4% and 122.8%[19]. - The retail penetration rate of new energy vehicles reached 27.3% in June 2022, a significant increase of 12.7 percentage points compared to the same period last year[19]. - The company achieved a 476.1% year-on-year increase in sales volume, surpassing the total sales for the entire year of 2021[38]. - The company has improved its market share in the pure electric vehicle segment priced between 200,000 to 350,000 RMB, with a year-on-year increase of 0.9%[38]. Research and Development - The company has developed a complete industrial chain covering vehicle manufacturing, core component R&D, product validation, and market sales, with a focus on enhancing core technology capabilities in the three electric systems[23]. - The company’s self-developed fourth-generation high-performance power battery has achieved advanced performance indicators, including a 60-minute thermal runaway test without fire and a 10-minute charge providing over 200 km of range[28]. - The company aims to enhance R&D capabilities, focusing on supercharging technology and software development across three domains[42]. - The company has initiated the development of next-generation products and platforms, including the Alpha S and Alpha T models[42]. - The company’s self-developed fourth-generation high-performance power battery product has entered the design verification stage, while the 175KW electric drive powertrain has begun mass production[33]. Operational Efficiency - The company has established a complete value chain system covering R&D, procurement, production, sales, and service, enhancing its overall operational efficiency[30]. - The company has formed strategic resource assurance plans with over 10 international supply chain partners to secure core resources amid global chip shortages[41]. - The company is actively expanding its service offerings to include charging and battery swap operations, car-sharing, smart mobility, energy management, and used car replacement services[23]. - The company has built 10 new exclusive supercharging stations and 3 destination stations, developing 1,289 750V ultra-high voltage certified stations across 40 cities[40]. Financial Position - Cash and cash equivalents at the end of the reporting period amounted to approximately ¥9.45 billion, a 42.65% increase from the previous year[45]. - The total liabilities included approximately ¥7.43 billion in current non-current liabilities, reflecting a 42.52% increase from the previous year[45]. - The company's external equity investment balance at the end of the reporting period was RMB 691.88 million, a decrease of RMB 20.17 million or 2.83% compared to the beginning of the year[47]. - The company's total equity decreased from 11,684,844,977.83 to 9,526,708,089.56, a decline of approximately 18.46%[93]. - The company's debt-to-asset ratio increased to 74.86% from 70.10%, indicating a higher level of leverage[89]. Environmental and Social Responsibility - The company achieved a reduction of approximately 1,400 tons of CO2 emissions in 2021 compared to 2020, with total emissions recorded at 15,520 tons[64]. - The company implemented energy-saving measures that reduced electricity consumption by approximately 200,000 kWh in the first half of the year[64]. - The company has established a comprehensive environmental management system in accordance with ISO 14001 standards[63]. - The company has a 100% compliance rate for hazardous waste disposal through qualified units[58]. Governance and Compliance - The actual controller, shareholders, and related parties have committed to reducing and regulating related party transactions, ensuring fair pricing and compliance with legal requirements[66]. - The company guarantees the independence of its operations, including management, assets, and financial decisions, to avoid conflicts with its controlling entities[66]. - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board to enhance operational efficiency[109]. - The company has committed to disclosing related party transactions in accordance with legal and regulatory requirements[66]. Risks and Challenges - The company faced risks from tight supply of core resources such as chips and batteries, impacting production and sales[52]. - The company is currently facing intense market competition and rising raw material prices, which may adversely affect operational efficiency[52]. - Rising raw material prices and the ongoing impact of the COVID-19 pandemic have resulted in existing gross profits being unable to cover fixed costs[87]. Shareholder Information - The total number of shareholders reached 221,021 by the end of the reporting period[80]. - Beijing Automotive Group holds 1,274,778,438 shares, representing 29.73% of total shares[80]. - The company has a significant number of shares under non-public issuance and asset acquisition agreements, with specific release dates in 2022 and 2024[78]. - The top ten shareholders collectively control 44.75% of the company's equity[81].

Financial Performance - The company's operating revenue for 2021 was approximately ¥8.70 billion, a 64.95% increase compared to ¥5.27 billion in 2020[16]. - The net profit attributable to shareholders was approximately -¥5.24 billion in 2021, showing an improvement from -¥6.48 billion in 2020[16]. - The net cash flow from operating activities was approximately ¥4.99 billion in 2021, a significant recovery from -¥6.62 billion in 2020[16]. - The total assets decreased by 10.42% to approximately ¥39.08 billion at the end of 2021, down from ¥43.63 billion at the end of 2020[16]. - The basic earnings per share for 2021 was -¥1.3035, an improvement from -¥1.8555 in 2020[17]. - The weighted average return on equity was -43.95% in 2021, slightly better than -45.83% in 2020[17]. - The company reported a total of ¥299.76 million in non-recurring gains and losses for 2021, compared to ¥163.78 million in 2020[20]. - The total profit amounted to -5.180 billion yuan, with a net profit of -5.170 billion yuan, reflecting a year-on-year decrease in loss of 21% and 20% respectively[30]. - The company achieved operating revenue of 8.697 billion yuan, a year-on-year increase of 65%[30]. - The net cash flow from operating activities improved significantly to ¥4,985,342,191.17 from a negative ¥6,621,357,412.14 in the previous year[31]. - The company reported a significant increase in sales expenses, which rose by 65.83% to ¥1,671,706,829.01 from ¥1,008,070,794.78 in the previous year[37]. Market and Product Development - The company plans to continue focusing on market expansion and new product development in the upcoming year[18]. - The ARCFOX brand launched the high-end intelligent luxury electric sedan αS, with the αS-HI version entering road testing[22]. - The company achieved a wholesale sales volume of 3.507 million units for new energy vehicles in China in 2021, a year-on-year increase of 165.1%[24]. - The penetration rate of new energy vehicles in China reached 14.8% in 2021, an increase of approximately 9% year-on-year[24]. - The company aims for new energy vehicle sales to account for about 20% of total new car sales by 2025, as outlined in national policies[24]. - The company is focusing on optimizing its product matrix and integrating online and offline marketing strategies[22]. - The company is committed to improving product quality and customer satisfaction through rigorous quality management and proactive issue resolution[22]. - The company is focusing on building a differentiated product system around competitive products, enhancing marketing innovation, and transitioning towards a service-oriented enterprise[57]. - The company plans to strengthen its core technology control in three electric systems, intelligent networking, and vehicle integration to maintain competitive advantages[57]. - The company is actively engaged in new product and technology development to stay competitive in the market[69]. Research and Development - The total R&D investment amounted to ¥1,835,921,866.73, representing 21.11% of the operating revenue[38]. - The company has applied for a total of 6,364 patents, including 2,686 invention patents, with 3,909 currently valid[24]. - The company has developed a new generation IMC electric platform technology, marking the first domestic technology export to overseas markets[28]. - The company is collaborating with Huawei and Baidu on smart driving technologies, with the αS-HI model entering road testing[29]. - Research and development efforts are being intensified, particularly in the area of new energy technologies[64]. - The company is investing heavily in R&D, allocating 1 billion RMB for the development of new technologies and innovations in the next year[66]. Governance and Compliance - The company has held 6 shareholder meetings and 11 board meetings during the reporting period, ensuring compliance with governance standards[59][60]. - The internal control evaluation report indicated no significant defects in the company's internal control design or execution[60]. - The company has committed to maintaining independence from its controlling shareholder in terms of assets, personnel, and operations[61]. - The company has signed agreements to avoid competition with its controlling shareholder, ensuring operational independence[61]. - The company has established a comprehensive salary and benefits system, ensuring timely payment of salaries and contributions to social insurance[80]. - The company has implemented a comprehensive risk management and internal control framework for its subsidiaries, ensuring compliance and operational efficiency[85]. - The company has established a performance evaluation mechanism for senior management, linking compensation to company performance and long-term interests[84]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, adhering to environmental protection laws and standards for emissions and waste management[86]. - The company achieved a 100% operational rate for pollution control equipment, with all wastewater discharge points meeting environmental standards[88]. - The company actively expanded its green supply chain and promoted green travel, contributing to national carbon peak and carbon neutrality goals[96]. - In 2021, the company supported poverty alleviation efforts by funding 113 impoverished children with a total of 114,000 yuan[97]. - The company purchased agricultural products worth approximately 2.16 million yuan from regions such as Inner Mongolia, Tibet, and Xinjiang[97]. Financial Management - The company has maintained a stable management structure with no significant changes in shareholding among key executives[63]. - The company reported a total pre-tax remuneration of 160,000 RMB for the chairman, Liu Yu[63]. - The company has a cash dividend policy that prioritizes reasonable returns to investors while ensuring sustainable development, with a commitment to distribute cash dividends when conditions are met[82]. - The company has no outstanding issues regarding compliance with regulatory requirements or penalties during the reporting period[104]. - The company has maintained a consistent repayment schedule for its debt obligations, reflecting strong financial management[139]. Future Outlook - Future outlook includes plans for market expansion and the introduction of new products and technologies to enhance competitive advantage[64]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[65]. - The company plans to maintain a balanced dynamic between business development and capital reserves through lean management and cost reduction[58]. - The company aims to improve its financial performance through enhanced operational strategies and cost management[64]. - The company plans to focus on product technology upgrades, enhance quality control, strengthen marketing efforts, and maintain prudent capital management to ensure sustainable operations[180].

[Major Financial Data](index=1&type=section&id=Item%201.%20Major%20Financial%20Data) [Key Accounting Data and Financial Indicators](index=1&type=section&id=Item%201.%281%29%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 2021, the company achieved substantial revenue growth, with a 352.19% increase for the quarter and 55.49% year-to-date, despite a **2.644 billion Yuan** net loss attributable to shareholders year-to-date, alongside a 3.95% decrease in total assets and a 25.64% increase in shareholders' equity Key Financial Indicators for Q3 2021 | Indicator | Current Period (Q3 2021) | Year-to-Date (Jan-Sep 2021) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (billion Yuan) | 3.661 | 6.098 | 55.49% | | Net Profit Attributable to Shareholders of Listed Company (billion Yuan) | -0.831 | -2.644 | Not Applicable | | Net Cash Flow from Operating Activities (billion Yuan) | Not Applicable | 3.052 | Not Applicable | | Basic Earnings Per Share (Yuan/share) | -0.19 | -0.69 | Not Applicable | Key Balance Sheet Data as of September 30, 2021 | Indicator | End of Current Period (Sep 30, 2021) | End of Prior Year (Dec 31, 2020) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (billion Yuan) | 41.903 | 43.626 | -3.95% | | Shareholders' Equity Attributable to Shareholders of Listed Company (billion Yuan) | 13.722 | 10.921 | 25.64% | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=Item%201.%282%29%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Year-to-date, the company's non-recurring gains and losses totaled **304.73 million Yuan**, primarily from **119.04 million Yuan** in government grants and **285.12 million Yuan** from the reversal of impairment provisions for individually tested receivables Non-recurring Gains and Losses Items Year-to-Date | Item | Year-to-Date Amount (million Yuan) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 119.04 | | Reversal of Impairment Provisions for Individually Tested Receivables | 285.12 | | **Total** | **304.73** | [Analysis of Changes in Key Financial Data](index=2&type=section&id=Item%201.%283%29%20Analysis%20of%20Changes%20in%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company explained significant changes in key financial indicators, attributing substantial operating revenue growth to increased vehicle sales and credit income, and improved net cash flow from operating activities to better business performance, higher cash receipts from vehicle sales, and reduced payments for goods - Operating revenue for the current period increased by **352.19%** year-on-year, primarily due to a rise in vehicle sales and credit income[7](index=7&type=chunk) - Net cash flow from operating activities improved, mainly due to better business performance, including increased cash receipts from vehicle sales and decreased payments for goods in the current period[7](index=7&type=chunk) [Shareholder Information](index=3&type=section&id=Item%202.%20Shareholder%20Information) [Shareholding Status of Shareholders](index=3&type=section&id=Item%202.%281%29%20Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders%27%20Shareholding%20Status) As of the end of the reporting period, the company had **157,486** common shareholders, with Beijing Automotive Group Co., Ltd. as the largest shareholder holding **29.57%**, indicating a strong state-owned background among the top ten shareholders - The total number of common shareholders at the end of the reporting period was **157,486**[8](index=8&type=chunk) Shareholding Status of Top Five Shareholders | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Beijing Automotive Group Co., Ltd. | State-owned Legal Person | 1,267,937,269 | 29.57 | | BAIC (Guangzhou) Automobile Co., Ltd. | Domestic Non-state-owned Legal Person | 268,054,522 | 6.25 | | Bohai Automotive Systems Co., Ltd. | State-owned Legal Person | 129,182,912 | 3.01 | | Wuhu Xinshi Xinyi Investment Management Partnership | Other | 124,109,800 | 2.89 | | Daimler Greater China Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 105,269,045 | 2.46 | - The largest shareholder, Beijing Automotive Group Co., Ltd., has an affiliated or concerted action relationship with the second and third largest shareholders, BAIC (Guangzhou) Automobile Co., Ltd. and Bohai Automotive Systems Co., Ltd[8](index=8&type=chunk) [Other Reminders](index=4&type=section&id=Item%203.%20Other%20Reminders) [Other Important Information](index=4&type=section&id=Item%203.%20Other%20Reminders) During the reporting period, the company had no other significant operating information requiring special attention from investors - The company had no other significant operating information requiring special attention from investors during this reporting period[10](index=10&type=chunk) [Quarterly Financial Statements](index=4&type=section&id=Item%204.%20Quarterly%20Financial%20Statements) [Consolidated Balance Sheet](index=4&type=section&id=Item%204.%282%29%20Financial%20Statements%20-%20Consolidated%20Balance%20Sheet) As of September 30, 2021, the company's total assets were **41.903 billion Yuan**, a 3.95% decrease from the beginning of the year, while total liabilities were **27.710 billion Yuan**, down 14.06%, and equity attributable to the parent company increased significantly by 25.64% to **13.722 billion Yuan**, primarily due to increased capital reserves Key Consolidated Balance Sheet Items (Unit: billion Yuan) | Item | Sep 30, 2021 | Dec 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 6.373 | 3.970 | +2.403 | | Accounts Receivable | 14.349 | 18.266 | -3.917 | | Inventories | 1.642 | 4.083 | -2.441 | | **Total Assets** | **41.903** | **43.626** | **-1.723** | | Short-term Borrowings | 4.391 | 7.567 | -3.176 | | **Total Liabilities** | **27.710** | **32.242** | **-4.532** | | Capital Reserves | 18.764 | 14.108 | +4.656 | | Retained Earnings | -9.316 | -6.671 | -2.645 | | **Equity Attributable to Parent Company Shareholders** | **13.722** | **10.921** | **+2.801** | [Consolidated Income Statement](index=6&type=section&id=Item%204.%282%29%20Financial%20Statements%20-%20Consolidated%20Income%20Statement) For the first three quarters of 2021, the company achieved total operating revenue of **6.098 billion Yuan**, a 55.49% year-on-year increase, yet reported a net loss attributable to parent company shareholders of **2.644 billion Yuan**, narrowing from **2.884 billion Yuan** in the prior year due to high operating costs and expenses Key Consolidated Income Statement Items (Jan-Sep 2021 vs Jan-Sep 2020, Unit: billion Yuan) | Item | Jan-Sep 2021 | Jan-Sep 2020 | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 6.098 | 3.922 | +55.49% | | Total Operating Costs | 8.996 | 6.577 | +36.78% | | Of which: Selling Expenses | 1.022 | 0.592 | +72.61% | | Of which: Research and Development Expenses | 0.652 | 0.422 | +54.50% | | Operating Profit | -2.618 | -3.057 | Loss Narrowed | | **Net Profit Attributable to Parent Company Shareholders** | **-2.644** | **-2.884** | **Loss Narrowed** | [Consolidated Cash Flow Statement](index=8&type=section&id=Item%204.%282%29%20Financial%20Statements%20-%20Consolidated%20Cash%20Flow%20Statement) For the first three quarters of 2021, net cash flow from operating activities significantly reversed to a positive **3.052 billion Yuan** from **-7.227 billion Yuan** in the prior year, driven by increased cash receipts from sales, while net cash outflow from investing activities was **1.380 billion Yuan** and net cash inflow from financing activities was **0.452 billion Yuan**, resulting in an ending cash and cash equivalents balance of **5.546 billion Yuan** Key Consolidated Cash Flow Statement Items (Jan-Sep 2021 vs Jan-Sep 2020, Unit: billion Yuan) | Item | Jan-Sep 2021 | Jan-Sep 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 3.052 | -7.227 | | Net Cash Flow from Investing Activities | -1.380 | 3.721 | | Net Cash Flow from Financing Activities | 0.452 | 2.436 | | **Net Increase in Cash and Cash Equivalents** | **2.124** | **-1.071** | [Explanation of Adjustments for First-time Adoption of New Lease Standards](index=9&type=section&id=Item%204.%283%29%20Adjustments%20to%20Financial%20Statements%20at%20the%20Beginning%20of%20the%20First%20Year%20of%20Adoption%20of%20New%20Lease%20Standards%20from%202021) Effective January 1, 2021, the company adopted new lease standards, retrospectively adjusting its financial statements at the date of initial application, primarily recognizing **162.81 million Yuan** in right-of-use assets and **77.93 million Yuan** in lease liabilities, with corresponding adjustments to fixed assets and prepayments - The company adopted the new Lease Standard (CAS 21 – Leases) issued by the Ministry of Finance, effective January 1, 2021[22](index=22&type=chunk) Key Adjustment Items on Initial Adoption Date of New Lease Standards (January 1, 2021) | Adjustment Item | Adjusted Amount (million Yuan) | Impact | | :--- | :--- | :--- | | Right-of-Use Assets | +162.81 | Asset Increase | | Fixed Assets | -147.03 | Asset Decrease | | Lease Liabilities | +77.93 | Liability Increase | | Long-term Payables | -70.09 | Liability Decrease |

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥2.44 billion, a decrease of 21.69% compared to ¥3.11 billion in the same period last year[14]. - The net profit attributable to shareholders for the first half of 2021 was approximately -¥1.81 billion, slightly improved from -¥1.86 billion in the same period last year[14]. - The basic earnings per share for the first half of 2021 was -0.5001, compared to -0.5333 in the same period last year[14]. - The company reported a total comprehensive loss of CNY -1,810,013,934.56 for the first half of 2021, reflecting a significant decrease compared to the previous period[88]. - The company reported a net profit of -1.81 billion RMB for the current period, which is a loss exceeding 10% of the previous year's net assets of 11.384 billion RMB[72]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥974.66 million, a significant recovery from -¥6.67 billion in the previous year[14]. - The company achieved a 67.32% increase in cash and cash equivalents, reaching ¥6.64 billion, primarily due to funds obtained from a non-public stock issuance[23]. - The company reported a net increase in cash and cash equivalents of RMB 2,444,777,935.49, compared to a decrease of RMB -2,049,086,377.80 in the same period last year[86]. - The ending balance of cash and cash equivalents was RMB 5,866,735,178.22, up from RMB 4,839,383,045.46 at the end of the previous year[86]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%, demonstrating strong debt management[73]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥44.02 billion, a slight increase of 0.91% from ¥43.63 billion at the end of the previous year[14]. - The total liabilities amounted to ¥53,175,249.71, significantly higher than ¥7,495,536.42 from the previous year, indicating a substantial increase in financial obligations[80]. - The asset-liability ratio decreased to 65.87% from 73.91%, reflecting a reduction in financial leverage[73]. - The total current assets reached ¥6,421,342,725.59, up from ¥934,496,695.53, indicating a growth of approximately 586.5%[79]. - The total amount of long-term receivables is CNY 55,600,874.27, with a bad debt provision of CNY 13,160,161.98[185]. Research and Development - R&D expenses rose by 55.94% to ¥261.75 million, reflecting increased amortization of R&D assets[22]. - The company has developed three vehicle R&D platforms (BE11, BE22, BE21) to enhance product development efficiency and reduce costs[18]. - The company has achieved significant advancements in battery technology, focusing on lifespan, safety, and fast replacement capabilities[18]. - The company has committed to building its own technological capabilities, resulting in increased amortization of self-developed non-patented technologies[72]. - The total intangible assets increased by RMB 739,228,222.13, primarily due to internal R&D expenditures of RMB 723,288,234.27[199]. Market and Competition - The company faces risks from increased market competition due to expanded production capacity and rising raw material costs[30]. - The Chinese government aims for new energy vehicles to account for about 20% of total new car sales by 2025, creating a favorable environment for the industry[16]. - In the first half of 2021, the production and sales of pure electric passenger vehicles in China reached 958,000 and 941,000 units, respectively, representing a year-on-year increase of 170% and 160%[16]. - The company plans to focus on brand promotion, sales growth, and channel development for the ARCFOX brand in the second half of the year[20]. - The company plans to expand its market presence through new product development and strategic partnerships[62]. Environmental and Regulatory Compliance - The company has established an emergency response plan for environmental incidents, with regular drills conducted annually[40]. - The company adheres to environmental protection laws and has obtained necessary environmental impact assessments and discharge permits for its projects[39]. - The company achieved a 100% operational rate for pollution control equipment during the reporting period[38]. - The company has no administrative penalties related to environmental issues during the reporting period[43]. - The company continues to develop energy-saving technologies for new energy vehicles and promotes green low-carbon commuting among employees[44]. Shareholder and Corporate Governance - The total number of ordinary shareholders reached 188,624 by the end of the reporting period[61]. - Beijing Automotive Group Co., Ltd. holds 1,267,937,269 shares, representing 29.57% of total shares[62]. - The company has undergone significant management changes, including the election of Liu Yu as the new chairman[32]. - The company has committed to not interfere with the management of the listed company and to ensure compliance with regulatory requirements[49]. - The company has not disclosed any related party transactions or changes in major shareholders during the reporting period[65]. Financial Instruments and Accounting Policies - The company recognizes expected credit losses for financial assets measured at amortized cost and contract assets defined under accounting standards[107]. - The company applies the current exchange rate for foreign currency transactions on the transaction date, with differences recognized in the current period's profit or loss[104]. - The company assesses impairment indicators annually for goodwill and indefinite-lived intangible assets, regardless of whether impairment indicators are present[129]. - The company recognizes investment income from cash dividends declared by investees, which is included in current profits and losses[117]. - The company confirms that cash equivalents are short-term investments that are easily convertible to known cash amounts with minimal risk of value change[103].